What are banks?
Essentially they are supposed to be depoistory institutions that LEND out money on teh basis of what they hold in DEPOSITS. Usually a 10:1 ratio loans to deposits.
Essentially they are supposed to be depoistory institutions that LEND out money on teh basis of what they hold in DEPOSITS. Usually a 10:1 ratio loans to deposits.
This business model or practice is BROKEN and any cursory glance of the www.BIS.org site will show exactly what has been going on with WOMD.
More on this later.
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