Icelandic Parliament investigating Full Reserve Banking

[Dickster]

5. What we have in this country

Fractional reserve banking. Do a google search for more info, it's too complicated to explain here. Full Reserve Banking would allow banks to only loan out what they have on deposit in the bank. Banks in this country in effect create money out of thin air every time they write a loan, and destroy when it is repaid. The whole banking system in this country is based on the fractional reserve system that allows the whole banking system to be enormously profitable. Just take a look at most communities...what's the nicest building in town? It's the bank. Iceland and Equador are the only two countries in the western world that have rebelled against this system...hurrah for them