Saturday, December 6, 2008

What Really Happened

This is a fabulous explanation of the destruction of the American economy. It is easy for anyone to understand. It is not short, but please take the time to read the whole thing.The swindle of the system is simple. The Federal Reserve Bank hires the US Treasury to print up some money. The Federal Reserve only actually pays the treasury for the cost of the printing, they do NOT pay $1 for each 1$ printed. But the Federal Reserve turns around and loans out that money (or credit line) to banks at full face value...

read more | digg story

No comments: