EPISODE · May 21, 2017 · 16 MIN
What is Banking? - 228 DSR
from Personal Finance Education · host Greg Whitaker
The creation, sale, and distribution of human energy. Monopoly - created by law and is enforced by law. For purposes of this discussion, the words money and human energy are one in the same. 1) The Creation of Human Energy - Congress borrowers money from The Federal Reserve. They make principle/interest payments. The paper money you hold is the IOU or Congress' promise to The Fed to pay back the debt. How does The Fed 'make" the money? An entry into a computer. 2) The Sale of Human Energy - The Federal Reserve decides the price (or interest rate) of money. They lend it to banks at an interest rate. The bank lends it to you at a higher rate and makes profit. Why don't you have access to money closer to the point of creation and therefore a cheaper rate of interest? Because of the law. 3) The Distribution of Human Energy - The Fed makes it, the bank borrowers it. The bank lends it to you after they decide if you're worthy of being lent to. Loan application, SSN, credit scores, collateral, assets, etc. They either say yes or no. Look at back of your Closing Disclosure. $100k loan, total paid over life of loan if min pmts made. Expressed as a dollar amount and percentage. This is only in the last 12 months. The old TIL only showed the total dollar amount. Closing: If you're the only one who creates, sells, and distributes human energy is it possible you'd develop a God complex somewhere along the way? Why? You control the population. This control is global. Resource: debtshepherd.com/078 - Why It's Called a Bank The Creature From Jekyll Island - book Get in touch. Podcast page. email or voicemail button. I'm Greg Whitaker reminding you: Get Your Mind Straight. Get Your Money Straight Debt Shepherd 2017, All Rights Reserved
What this episode covers
The creation, sale, and distribution of human energy. Monopoly - created by law and is enforced by law. For purposes of this discussion, the words money and human energy are one in the same. 1) The Creation of Human Energy - Congress borrowers money from The Federal Reserve. They make principle/interest payments. The paper money you hold is the IOU or Congress' promise to The Fed to pay back the debt. How does The Fed 'make" the money? An entry into a computer. 2) The Sale of Human Energy - The Federal Reserve decides the price (or interest rate) of money. They lend it to banks at an interest rate. The bank lends it to you at a higher rate and makes profit. Why don't you have access to money closer to the point of creation and therefore a cheaper rate of interest? Because of the law. 3) The Distribution of Human Energy - The Fed makes it, the bank borrowers it. The bank lends it to you after they decide if you're worthy of being lent to. Loan application, SSN, credit scores, collateral, assets, etc. They either say yes or no. Look at back of your Closing Disclosure. $100k loan, total paid over life of loan if min pmts made. Expressed as a dollar amount and percentage. This is only in the last 12 months. The old TIL only showed the total dollar amount. Closing: If you're the only one who creates, sells, and distributes human energy is it possible you'd develop a God complex somewhere along the way? Why? You control the population. This control is global. Resource: debtshepherd.com/078 - Why It's Called a Bank The Creature From Jekyll Island - book Get in touch. Podcast page. email or voicemail button. I'm Greg Whitaker reminding you: Get Your Mind Straight. Get Your Money Straight Debt Shepherd 2017, All Rights Reserved
NOW PLAYING
What is Banking? - 228 DSR
No transcript for this episode yet
Similar Episodes
Apr 21, 2026 ·13m
Apr 19, 2026 ·16m
Apr 17, 2026 ·13m
Apr 13, 2026 ·11m
Apr 11, 2026 ·16m