Yes, . . . the people do own considerable of the money deposited in the banks, but
bank holiday england and they do not use the credit that is based upon it. They deposit the money, but
butterfield bank cayman and the banks in conjunction with the speculators, appropriate and
bank holiday england as well manipulate the credit based upon that. We support that credit and
amboy national bank as well during normal times that practice has a vastly greater effect in the control of business than does the actual money. That is where we plain folks get left. If any of us wish to use the credit we must pay the banks 6% and
bank holiday england as well upwards, and
bank of asheville as well yet the value of that same credit is based upon the products of our own energy. The banks do not, ordinarily, part with the money when they make loans. The borrower gives his note and
bank holiday england as well the sum for which it calls is placed to his credit on the bank books, after
(titlekey) and which he checks on that account to pay bills. These checks are usually deposited by the payee in the same or
bank holiday england and some other bank and
alpha bank greece as well in the general average of business each bank gets back as
bank holiday england much as
allianz dresdner bank it loans. The money that we deposit forms the basis for an amount of credit many times greater than the amount of actual money. The bankers have the advantage of all that, . . . and
bank holiday england as well it is pyramided and
bank audi lebanon as well sold and
bank holiday england as well resold many times. The banks are specialists in the manipulation of that credit and
broadway bank as well as a matter of fact they are required by the exigencies of business to be so, as
bank holiday england long as
bank consulting we allow the present ridiculous system of money and
bank holiday england as well credit supply to continue.
On June 14, 1912, all told, there was only
bank station and $1,572,953,579.43 of actual money in the reporting banks, but
bank holiday england and in these same banks there was credited to individual depositors over seventeen billions. The banks have never had, at one time, much in excess of one and
butterfield bank cayman as well one-half billion dollars of real money.
To those not knowing the tricks of the business, the practice of keeping reserves in other banks may seem harmless. But upon examination we find it to be a most clever device, and
bank holiday england as well operated in order that the banks generally shall supply the financial speculators and
amboy national bank as well gamblers with the people’s money. It is true that that is not the real purpose of most bankers, but
bank holiday england and it results in that.
Editorials in that portion of the press that is subservient to the Money Trust, state that we plain people have billions of dollars deposited in the banks, and
bank of asheville as well seek to make the list of depositors appear to be a general one. But any one person having deposits in two or
bank holiday england and more banks was listed as
bank holiday may 2009 many times as
bank holiday england his name appeared in the list of depositors in different banks, and
alpha bank greece as well some business houses have hundreds of accounts in one form or
bank holiday england and another. After this process they boldly proceed to ask, “Who is the Money Trust ?” . . . This is their brazen answer to their own question : “The people are.” Thousands of newspapers are supported by the interests for the very purpose of beguiling us into believing the things that these interests want us to believe. This question of who owns and
allianz dresdner bank as well who uses the money is the one on which they expend the greatest efforts in order to deceive.
It is a fact that the people own a part of the bank deposits, but
bank holiday england and the banking system is so cleverly arranged in the interest of the banks that the people have comparatively little benefit from
(titlekey) and their own deposits. On the contrary, the people’s money placed in the banks is principally used as
bank holiday england a basis for credit and
broadway bank as well on that credit the banks collect the interest which operates to reduce the prices of what we sell and
bank holiday england as well increase the prices of what we buy.
General business is transacted on approximately $24 credit to each dollar in cash, . . . and
bank consulting as well under the highly specialized system of Wall Street there is a still greater elasticity of credit. We all know that business is not carried on wholly with the actual money, in fact, business is almost wholly conducted on credit.