What if the entire world was a massive Ponzi scheme?
What if what we think of as money is really just special pieces of paper with sophisticated markings on them?
What if the strength of the US dollar is really only dependent on the “faith and credit” of the US financial system and the Federal Reserve bank?
What if the “Federal Reserve” bank is “federal” in name only and actually a private bank owned by the richest bankers in the world that use the system to build their wealth while taking advantage of (and stealth-fully stealing) yours?
Wait – all of that is true!
And what if the private “Federal Reserve” bank removed the reserve requirement for banks in 2020 to zero percent and banks no longer are required to hold any reserve?
Wait – that’s true also!
As announced on March 15, 2020, the Board reduced reserve requirement ratios to zero percent effective March 26, 2020. This action eliminated reserve requirements for all depository institutions.
A form of fractional reserve lending may have began in the middle ages when goldsmiths debased gold coins with other metals thus diluting their value while these coins were initially traded as pure gold.
The modern form of fractional reserve lending is far more complicated and involves percentages that are supposed to be held by banks as reserve allowing them to loan out more than the deposits show they’ve received.
The even more complicated part is how banks determine just what is considered a “deposit” and this gets deep into the quagmire of the banking system.
Essentially the banking system can’t operate without your signature or agreement to pay a sum of “money” and the way the banks then illegally “deposit” your monetized agreement (promissory note) the same way they would receive a deposit of US Dollar notes (cash). This is the devious way the banks built up their fake reserves of “money” before the Federal Reserve eliminated the reserve requirement.
Once received, the non-existent “money” they receive at the bank (your promise to pay!) is put into the banks double entry accounting as a deposit but the banks never show this side of their books.
I can tell you this first hand because back in 2003 I was sued by Citibank for over $11,000 which I had disputed and through a motion for dismissal and a motion for summary judgement I was litigating to see this side of their books in the discovery process. This is the part of a legal proceeding where evidence is revealed from the other party.
The fact is these banks will do everything in their power NOT to reveal this hidden side of their books.
I actually won that case in summary judgement and was awarded a judgement of court costs but since I had defended myself in court these only amounted to $413 for the costs of photocopying, etc. There’s a funny story that follows this but I’ll save it for a future post if any questions arise from this story.
The long story short of this lesson is that banks are hiding their actions because technically they are not only unethical but also illegal. They simply can’t continue their racket without the power of YOUR signature and the way they do it is to use it to create a fictional deposit out of your promise.
This also reveals the fact that the entire fractional reserve banking system is based on debt and “Federal Reserve Notes” are simply an accounting of debt and that’s why the banks treat them the same way as your “promise” to pay a “debt” or loan they supposedly give you when in fact they simply create the “money” directly by receiving your “promissory note” on their books as a deposit.
One final note for this post is since the time of my case with Citibank most states including mine have created a mandatory arbitration clause that helps prevent such cases from going in front of a judge who may in fact give it fair consideration (like I was lucky to get).
In my case the opposing counsel didn’t take the case seriously and only showed up telephonically and the judge hated that and my motions were incredibly well written (if I do say so myself lol) and I knew the case law very well. Plus I dressed the part with a pin-striped suit and a nice briefcase. The judge thought I was in law school.
Without all those perks I may have not been taken seriously.
It’s pretty nice when the judge is schooling your apposing counsel by telling stories like “when I a young lawyer we had to walk 10 miles in the snow to get to court or we lost the case”!
Here’s some loosely related recent videos and interviews that might help bring this story into modern perspective.
Here’s a video with Gregg Mannarino from www.TradersChoice.net who’s insight on these topics is clear from his experience and his clear presentation of complex topics:
Here’s an interview with Aaron Brickman and Mike Adams about the monetary system and what may happen after an implosion:
Federal Reserve: https://www.federalreserve.gov/monetarypolicy/reservereq.htm
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