Hi ,
I saw this documentary Zeitgeist and it was about how world’s banks are duping people with Fractional Reserve Banking(banks lending money which they dont have and charging interest on it).Its like creating money out of thin air.If a bank has 100 rupees deposit they can loan 1000 even if they dont have it.I think it is a fraud.What is your view on this?I was shocked when i learnt about this.I think this system of money lending makes our money to lose value and this creates lot of inflation.This is what created the 2008 Recession in america because the money created out of thin air was backed by real estates,when real estates lost value everyone lost money big time.this system only serves the banks and public lose thier money’s worth.
Thanks,
Vijay
Thanks,
Vijay