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How Bankers Seized America through Liars Loans and Accounting Fraud
• Speak Truth 2 PowerI have never ceased wondering how many people lied to get a loan that they simply could not afford. This video explains how and why the bankers used this outrageous loan qualification process.
From the booklet "Two Faces of Debt":
"The flow of savings and the way these funds return to the income stream through creation of debt are shown in the following diagram: Savings and Debt in the Income Stream. If any channel is cut off, future income is reduced.
. . . a money creation function
Debt does more than simply transfer idle funds to where they can be put to use -- merely reshuffling existing funds in the form of credit. It also provides a means of creating entirely new funds -- funds needed to finance the greater volume of new projects and spending that contribute to economic growth."
The booklet, "Two Faces of Debt", is a Federal Reserve Bank booklet.
Google it.
See:
http://www.scribd.com/doc/4980026/TwoFacesOfDebt
http://www.ccc.unc.edu/documents/FreemanACSP2008Web.ppt