Posted 6 months ago on Dec. 8, 2012, 3:46 p.m. EST by TrevorMnemonic
This content is user submitted and not an official statement
"The Federal Reserve creates money from nothing, gives it to banks, the banks keep it on deposit, gain interest, pay high CEO bonuses, fat cat city while the rest of America falls apart." - Dennis Kucinich
I really can't push this enough. Dennis Kucinich lays out important information about how reform in monetary policy could put this country back into progress mode! And he explains it in 3 minutes.
Our current monetary policy is set up to give unlimited resources to Wall Street and the big banks. Specifically for one example after 7.7 trillion dollars in loans, the banks net an estimated 13 Billion in profits.
One of the causes of inflation is when new money is created without the creation of new wealth. Less purchasing power is dangerous when the majority of wages are stagnant. But the banks are fine because they're profiting billions on these "loans." The stress and risk is pushed onto the middle class.