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The Water Cooler
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Where's the smart money?
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<blockquote data-quote="LightningCrash" data-source="post: 1310450" data-attributes="member: 4278"><p>Doesn't make sense? It's how money is created and destroyed in a fractional reserve banking system. It's something taught in freshmen econ classes.</p><p>You can call it whatever you want... when a loan is defaulted, that money is destroyed. When a loan is paid back, that principal is destroyed.</p><p></p><p><a href="http://www.youtube.com/watch?v=xNehYxy77RI" target="_blank">http://www.youtube.com/watch?v=xNehYxy77RI</a></p><p></p><p>It's a fundamental function of the money supply. Study!</p></blockquote><p></p>
[QUOTE="LightningCrash, post: 1310450, member: 4278"] Doesn't make sense? It's how money is created and destroyed in a fractional reserve banking system. It's something taught in freshmen econ classes. You can call it whatever you want... when a loan is defaulted, that money is destroyed. When a loan is paid back, that principal is destroyed. [url]http://www.youtube.com/watch?v=xNehYxy77RI[/url] It's a fundamental function of the money supply. Study! [/QUOTE]
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