The Choice is Ours: Fractional Reserve Lending

“Banks use a process called 'fractional reserve banking' which enables them to loan more than they have on deposit to cover the loans. They then charge interest on money they don't have. Through this process, banks lend out at least ten times more than they have on reserve, which reduces the value of money and lends to inflation. It is no wonder the newest and biggest buildings in cities belong to banks. If we behaved like banks, we would be charged with fraud.

This is not a new practice. In 1881 James Garfield stated, 'Whoever controls the volume of money in any country is absolute master of all industry and commerce. And when you realize that the entire system is very easily controlled one way or another by a few powerful men at the top, you will not have to be told how periods of inflation and depression originate.'”

Excerpt from The Best That Money Can't Buy by Jacque Fresco. Read the e-book here:

A BIG thank you to Alexander "Obraz" for the animation!

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Jacque Fresco,Roxanne Meadows,Peter Joseph,The Venus Project,Resource Based Economy,Sociocyberneering,The Choice is Ours,Paradise or Oblivion,Future by Design,The Best That Money Can't Buy,Designing the Future,Zeitgeist Moving Forward,Zeitgeist Addendum,Zeitgeist Films,Fractional Reserve Lending,Monetary System,Fractional Reserve banking,