Today, virtually the entire circulating money supply (M1, M2 and M3) consists of privately-created “bank credit” – money created on the books of banks in the form of loans. If this private credit system implodes, we will be without a money supply.
Which is one of the factors which led to the Great Depression: no money.
[read the rest @ http://dissidentvoice.org/2013/09/the-armageddon-looting-machine/]
If you thought the government fixed our banking system following the 2008 meltdown, you would be wrong.
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