Archived In case you didn't know how banks; local, regional or federal, operate (imgoat.com)
submitted ago by ARsandOutdoors
Posted by: ARsandOutdoors
Posting time: 1.8 years ago on
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Archived on: 5/15/2019 10:00:00 AM
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79 upvotes, 2 downvotes (98% upvoted it)
Archived In case you didn't know how banks; local, regional or federal, operate (imgoat.com)
submitted ago by ARsandOutdoors
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[–] GunsSaveLives 0 points 1 point 1 point (+1|-0) ago
This is accurate. Sadly. And the only thing backing the money is IOUs by the U.S. government to the Federal Reserve Bank, and - get this - the IOUs themselves are to be paid with U.S. dollars. If the government ever paid off all of the national debt our financial system would crumble.