The Strange And Wonderful World Of Banking - 06/10/13

The Wake Up Call show

Summary: A primer on banking and ‘money-from-thin-air’ and how your deposits get processed. How the interbank system works. How banks create the money they need to make loans. How the government obtains the money it needs for its operations. Lending money to the public. Why the banks get the juicy rates from the Fed and the public…doesn’t! Foreign outrage at the U.S. government snooping into international communications