“Banks don’t have loads of paper money in their vaults. When they start to make a customer loan, they just create the money with a bookkeeping entry [fractional-reserve banking] . It costs the bank nothing, but the customer has to pay interest. (Emphasis added)
Bankers big and small love this system, as do politicians. This gives them a silent and unfair advantage over the people.
Bankster-created money is the blood of war as well as the impoverishment of the people. All central bankers create the money for war and death.
Your local banker is probably innocent in this scheme. I doubt if one person in 1,000 — and that includes most bank employees — has a clue as to how money is created by banks.”
“Thus, fractional reserve banking is at one and the same time fraudulent and inflationary…”-Rothbard
“It should be clear that modern fractional reserve banking is a shell game, Ponzi scheme, a fraud in which fake warehouse receipts are issued and circulate as equivalent to the cash supposedly represented by the receipts”–Rothbard
The destruction of the culture and the spiritual, the consequence of inflation (creation of currency and credit from paper and digital entries), resulting materialism and the destruction of the poor (an abomination to God)
Chapter 13 of the book: The Ethics of Money Production: The Cultural and Spiritual Legacy of Fiat Inflation
“Of all the preposterous assumptions of humanity over humanity, nothing exceeds most of the criticisms made on the habits of the poor by the well-housed, well-warmed, and well-fed.”