When Banks Implode

<p /><p><strong><font face=”verdana,arial,helvetica,sans-serif” size=”2″>Everything you always wanted to know about the collapsing state of the banking industry — but were afraid to ask.</font></strong></p><p><font face=”verdana,arial,helvetica,sans-serif” size=”2″>&quot;Our national circulating medium [i.e. dollars is at the mercy of loan transactions of banks, which lend, not money, but promises to supply money they do not possess.&quot; — Irving Fisher</font></p><p><br /><font face=”verdana,arial,helvetica,sans-serif” size=”2″>The actual creation of money always involve the extension of credit by private commercial banks. — Russell Munk</font></p><p><font face=”verdana,arial,helvetica,sans-serif” size=”2″>&quot;Money is created when loans are issued and debts incurred; money is extinguished when loans are re-paid.&quot; — John B Henderson</font></p><p><font face=”verdana,arial,helvetica,sans-serif” size=”2″>Money that one uses to pay interest on a loan has been created somewhere else in the economy by another loan. — John M Yetter<br /></font></p><font face=”verdana,arial,helvetica,sans-serif” size=”2″><strong><a href=”http://bankimplode.com/&quot; target=”_blank”>LINK</a></strong></font>

2008-07-27