Exactly. It's neither Federal nor a Reserve.
They are not a government entity and since they engage in the practice of fractional lending, there is definitely no reserve.
It ain't hard to figure out why these powerhouse banks keep collapsing when you realize that at any given point in time, they have 10 times as much money lent out than they actually have in assets.
Re: Buy Food, Guys!
Member #: 40846
Registered: 9/19/2005
Posted:
1493
Name:
Duane Vick
Name:
Duane Vick
Company:
Self-Employed
Occupation:
Installer
Location:
Phoenix AZ
There are 0 replies to this message
