[Toddsterpatriot]

Here Todd, just because it was so easy and you are a Freeper I went out and found your "proof" for you.

Thanks. You're very helpful.

Fed Chairman Ben Bernanke admitted the central bank created $1.3 trillion out of thin air

Central banks can create money out of thin air. It's the reason they are created.

Now if you look at my claim in post #28....

Post proof that banks can lend money for your mortgage out of thin air.

You didn't get your loan from Ben Bernanke, did you?

When you take a loan out on your house you are actually being given cash that was created out of thin air.

Is that what you meant here?

[Garth Tater]

When the banks loan out ten million dollars in mortgages and are required to hold only one million dollars of their assets in reserve - where do you think that other nine million dollars comes from?

If the mortgages were "fully funded" then the bank would already have given out ten million dollars of their own money to those borrowers and in that case why would any money have to be held in reserve? To cover what? They have already covered any possible mortgage defaults and are themselves in no danger of going bankrupt. Only the loans where 90% of the loan's value is created out thin are subject to the reserve requirement. Do you really not know this?

You really should read The Creature From Jekyll Island and then follow up with your own research in cases where you disagree with the author.