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Comment by PureTrust
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Greenspan is totally hiding the fact that all bank and lending institution loans are creations of new money. Essentially, the loan is paid off by the signature on the promissory note, before the borrower ever gets the money. This means that there is no danger of the banking system ever losing anything, except if they would happen to have negative interest rates of 100% or more. So far, all principal and interest paid on loans is 100% pure profit for the banks - at least for the FED. The only other danger is if this knowledge becomes wide-spread enough that the people rise up and lynch the bankers for being tricked into paying off all the non-loans that they havepaid over the years. Search on "Tom Schauf."

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