Quote from: JoelKatz on August 02, 2011, 05:09:41 PM

Quote from: Astrohacker on August 02, 2011, 05:05:43 PM

It's fraud because banks make you think their IOUs=dollars, when in fact they are definitely not equal because they are not backed 100% by dollars.

So there are people who think they are 100% backed by dollars? Where can I find some of these people? And how do banks make people think this? Is it some form of mind control?

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Further fraud is caused the Federal Reserve because they counterfeit new dollars, so today's dollar is not the same thing as yesterday's dollar. $(today) != $(yesterday). But the Fed lies to you and makes you think $(today)=$(yesterday) by calling both of them "dollars", hence the fraud. So banks are a fraud on top of a fraud.

Let's stick to fractional reserve banking first. I can only rebut one conspiracy theory at a time. (But yes, inflation caused by government expansion of the money supply does act like a tax on all wealth. But this is no secret.)

You can find them anywhere since 99% of people do not understand how banking works.