Quote from: ScryptAsic on November 04, 2014, 06:23:18 AM

You are contradicting yourself here. In order for something to be stolen, someone would first have to own it. However if something is created out of thin air then no one could have previously owned it.
There is also the fact that fractional reserve banking does not create money out of thin air. When a bank lends out money, they still owe the same amount of money to their depositors. If fractional reserve banking is able to create money out of thin air then why do we need the FDIC? Also why would a bank ever fail? Couldn't the bank just create additional money out of thin air whenever they run into trouble?

Just because the theft is a minuscule theft spread across millions of victims does not make it any less of a theft.
What is stolen is purchasing power aka value. The value of all of the other money in the economy drops whenever new money is created by banks.

A banks does not need deposits to make a loan. If a bank with no extra deposits wanted to give out a million dollar loan they just do it. Its not completely cost free. They are required to keep 10% of loans on reserve with the FED. However, if they are short the $100,000 they can simply get that money from the FED itself where it is lent to them at the Federal Funds Rate (currently 0.25). That done they simply credit the borrowers electronic account with a million dollars. Simultaneously all other existing money is diluted in value.

Finance Part I: Understanding the Parasite
Finance Part II: The Parasitic Cycle
Finance Part III: Divide, Conquer, Enslave

Quote from: ScryptAsic on November 04, 2014, 06:23:18 AM

I would say that people are 'proud' to declare bankruptcy because of the lower moral standards that our country has.

In an economic system that is systemically rotten yet sanctioned by law as good and normal a population with a declining moral standard should not come as a surprise.