Loans are Fraud
The Goldsmith's Secret: How Banks Conjure Money from Thin Air
Introduction: The Most Important Secret in Economics
If someone asked you, “Who creates the money in our economy?” what would you say? If you're like most people, you'd point to the government or the central bank. A recent survey confirmed this, finding that a staggering 84% of people hold this common-sense—but completely wrong—belief.
This article's purpose is to reveal one of the most important, yet deliberately obscured, secrets in economics: the vast majority of money in circulation is created not by governments, but by ordinary commercial banks. We will demystify this "taboo" concept by traveling back in time to uncover its fraudulent origins and then breaking down the simple, legalized accounting trick that makes it possible today.
1. A Tale of Gold and Deception:
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I wonder how far reaching this information could go. Is it the same pattern of behaviour in all countries ? Some religions do not allow usary. Would obtaining a loan in these jurisdictions be less fraudulent ? I need to say that the first title is incorrect I think. "Loans are Fraud" is not correct. "Some loans are fraud" is more correct. If the banks were to lend money from their vaults then this would be a valid loan as I understand it. If they are creating money out of thin air then this is fraudulent.