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@farooq 1690679154

If you deposit $10,000 into a bank 🏦

Here’s what happens…

The bank set asides a 10% and loans out the rest of your money.

How it works, say another person comes in and asks for a car loan of $9,000.

At this moment the banks loans out $9,000 from your original deposit, it isn’t there anymore.

The borrower then pays the person selling the car and they deposit the money into another bank which is the part of the same central banking system.

This $9,000 is treated as a new deposit.

The process continues…

The money gets redeposited and re-loaned until the initial deposit of $10,000 becomes $100,000.

The banking system just created $90,000 by loaning out your money.

Banking system is a fraud. Learn #Bitcoin

3519❤️40🤙20❤️1👍1💜1💯1

Its even simpler. Theres no reserve requirements so they take your 10000 and buy treasuries pocketing the difference on interest rates. They make money out of thin air when people issue securities (e.g. get a mortgage, car loan, etc) that they "buy" by updating numbers in your account balance, and...

There are actually no reserve requirements as of 2020 so it's much worse than you stated

nostrich · 162w

The bank will first have some questions about the source of funds if you deposit 10k cash

No! When that person comes in for the $9000 loan, they DONT use anyone’s deposits. They create an asset (loan) and liability. The asset is the $9k loan and the liability is $9k of newly created money. This is how money is created -through LOANS! Money=Debt A scam completely.

Jerry Curlan · 162w

The creature from Jekyll Island

freeborn | ἐλεύθερος | 8r0gwg · 162w

Since about March 2020 the reserve requirement is zero. Zero.

Not on Xapo Bank (https://www.xapobank.com/). They don't lend users money to other users. They are pro-bitcoin and pay the 4.1% yield from dollars deposits in Sats.

BitcoinEagle.dev · 162w

You've got that from the 2009 YouTube video? It doesn't work like that. Nowhere is there any 10% or 90% number

Is the $1000 actually money or some other debt instrument?

Sovereign Being · 162w

I don’t think it works this way. When you take out a 500k mortgage, they are not lending you 90% of someone else money. They literally have a license to magic up that 500k out of nowhere, and lend it to you at interest. Since the scamdemic, there is no longer a requirement to have any reserves.

Shashue · 162w

𝖓𝖔𝖊𝖗𝖒𝖘 · 162w

I think this isn’t the case anymore. In recent years the banks are allowed to set aside 0%

mutatrum · 162w

Oh sweet summer child.

Coinatra · 161w

I believe you missed the part where they charge you x% when you try to withdraw the $10,000 without giving them 30 days notice.

Luke Dashjr · 161w

Not exactly. In step 1, they set aside the whole $10k, declare that 10%, and loan out $90k they don't have. So by the end, it's not $90k, but almost a million.