End Fractional Reserve Banking And Remove Frank-Dodd Legislation

Banks have always had the luxury of making an income/profit off of other people’s labor and wealth. Did you know that in 2020, the Federal Reserve (A private company that is neither “federal”, nor “has reserves”) waved a magic wand and told all of the banks across the country that, instead of being required to hold a small percentage of customer deposits on hand (in case customers wanted to withdraw their cash), banks could now loan out 100% of those customer deposits and charge interest on it as a new revenue stream?

So it works like this…You put $100 in your bank and maybe draw some meager 1% interest on it. Then the bank scoops all of that money out of your account and loans it to another person, charging them 6% interest on YOUR secretly loaned out money, while they hope that you don’t come asking for it when they use it to make money for themselves.

The next guy who got the $100 bank loan (your own money) comes over to pay you a debt that he owed you for quite a while, so you take the $100 from him and put it back into your bank account. Then the bank reaches into your account and scoops the fresh $100 out and loans it to ANOTHER person, charging her 6% interest on the new loan of the old money. Now the bank is making 12% on the two loans, based on fake money that was created out of thin air. This happens over and over again, and finally, the entire town is paying part of their monthly income to the bank – all because the bank had the ability to “borrow money into existence” that it did not own.

So the banks figured out the problem that, if everyone got scared that they would loose their money in the bank, they would come asking for it back, which would cause a bank run and trigger a state of immediate bank insolvency. In order to patch up this danger to themselves, the banks twisted the arms of politicians and made them pass legislation called “The Frank-Dodd Bill” – look it up, which conveniently specified who became the owner of the money, once it hit your personal bank account. The bill stated that if the bank felt as though its financial stability was threatened in any way, that it could legally wave a magic wand and perform a brand new ‘conjuring act’ called a “bail-in”, which essentially gave them immediate ownership to your deposited funds. And because of that sly legislation, they no longer had to worry about bank runs…they could simply say, “I’m sorry, we cant give you your money back, but can we interest you in taking some of our worthless bank stock and a tasty candy mint as a show of our continued customer support?” I do realize that it is a bit more complicated than I expressed here in the P4P forum, but I am trying to reach the widest audience possible when describing the problem with fractional banking. Thankfully, the internet can provide much more depth, if one wanted to research this ‘fractional reserve banking’ further - just drop it into any search engine.

In order to safeguard the liquid assets of the American People, I am proposing putting an end to fractional reserve banking, and an unconditional revokation of said Frank-Dodd “Bail-In” Legislation that was passed into law. The American People should enjoy the security of knowing that monies deposited into institutional accounts are 100% theirs, and cannot be stolen simply because the bank has recklessly over-extended its financial affairs through fractional reserve banking practices.

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I met with a bank President in 2009 who was required by regulators to move a performing RE loan to loss reserves. The bank later went under.

The regulators were scared of RE exposure (because of the 2008 crash). The White House was trying to stimulate the economy at the time and the regulators were completely at odds.