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from a post 7 years ago I made on a different social media site:
On this day 7 years ago Mitch Stein · Shared with Public IT's ridiculous. But unfortunately true. In our culture the comedians tell more truth then the media. Hat's off to the late great George Carlin, who had a comedic anger based solely in the ridiculousness of our culture, politics and society. His words have awaking more people then almost any other on a broader range of topics that are more serious then most others. Lewis Black, who holds back nothing, tells it exactly how it is and never f Read More
There are several similarities that have been noted between the Roman Empire and the United States. Some of these similarities include:
Military strength: Both the Roman Empire and the United States were/are considered superpowers in their respective times, with dominant military forces. Economic dominance: Both the Roman Empire and the United States had/have strong economies that played a significant role in their dominance. Cost of elections: The cost of elections has increased significantly in both the Roman Empire and the United States, with concerns about the influence of mon Read More
In the 1950s, society was captivated by bikinis and miniskirts. In the 1960s, long hair and hippies became the symbols of a generation. In the 1970s, bikers and disco took center stage. In the 1980s, hair bands and bikers were the trendsetters. In the 1990s, tattoos and piercings became the mark of rebellion. In the 2000s, long hair, tattoos, piercings, and spandex made a comeback. In the 2010s, alternative lifestyles and LGBTQ+ acceptance began to flourish.
Throughout history, there have always been groups that were marginalized or considered outcasts. These were the Read More
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alphamale: Because Gays should know thier place and it aint here in the USA.
I hear people saying things like "Trump should not be able to run for president since he is under indictment".
And this is a dangerous way of thinking. For one simple reason.
If the sitting government does not want any person to hold a position in government they will simply indict them under bogus charges.
This means if you want to run for president and somehow raise enough money, convince one of the two parties to back you but the other party does not want to in the race, they simply use their power to have you indicted.
kinda scarey now huh? and not so much cau Read More
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alphamale: bullshit, convict the criminal, he should never be president!
Tinkercad is a fantastic online platform for creating 3D models, circuits, and designs. It's particularly popular for its ease of use, making it a great choice for beginners and students who are learning about 3D design and electronics. Here are some reasons why Tinkercad is considered great:
You can access Tinkercad by visiting their official website: https://www.tinkercad.com/ User-Friendly Interface: Tinkercad offers a simple and intuitive interface that allows users to easily create 3D models and circuits without the need for extensive technical knowledge.< Read More
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alphamale: Yep I use this site to make my 3d printing files.. 100% free and love it!!
An atrocity has occurred, and it's time to wake up and recognize the danger we face. A man was pulled over by the police, supposedly for erratic driving, but what unfolded next was nothing short of murder.
Two officers approached the vehicle, one with a gun drawn. As the driver rolled up his window, he was shot multiple times and killed. The police lied about what happened, claiming the victim had a knife and was out of the vehicle. Video evidence proves this to be a blatant falsehood.
The city's response? Silence. A promise of a future press conference. The public's reaction? No Read More
Fractional reserve banking is a system in which banks are required to hold only a fraction of their deposit liabilities in reserve, with the rest being available for lending or investment. Here's how it works and who it benefits: How It Works:
Deposits and Reserves: When customers deposit money into a bank, the bank is required to keep a fraction of that money in reserve. This reserve requirement is typically set by the central bank or other regulatory authorities.
Lending and Investment: The remaining portion of the deposits Read More
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mitch: The process by which banks amplify or create money through fractional reserve banking is often referred to as the "money multiplier effect." Here's how it works, step by step:
1. Initial Deposit:
Customer A deposits $1000 in Bank X.
Bank X keeps a fraction in reserve (let's say 10%, or $100) and is free to lend out the rest ($900).
2. First Loan:
Bank X lends $900 to Customer B.
Customer B spends the $900, and the recipient of that money deposits it in Bank Y.
3. Second Bank's Actions:
Bank Y now has a new deposit of $900.
It keeps 10% in reserve ($90) and lends out the remaining $810 to Customer C.
4. Process Continues:
This process continues as the money is spent, deposited in other banks, and then lent out again, each time with a fraction kept in reserve.
5. Money Multiplier Effect:
As this process repeats, more and more money is "created" in the form of loans and deposits.
The total amount of money created depends on the reserve ratio. In our example, with a 10% reserve ratio, the total money created could be up to $10,000 (including the initial deposit).
The Formula:
The money multiplier can be calculated using the formula: 1 / Reserve Ratio.
In our example, the multiplier is 1 / 0.10 = 10, so the initial deposit of $1000 can lead to a total of $10,000 in the banking system.
Important Considerations:
Not Infinite: The process doesn't create an infinite amount of money. It's limited by the reserve ratio and the willingness of people to borrow and deposit money.
Confidence: The system relies on confidence. If everyone tried to withdraw their deposits at once, the banks wouldn't have enough reserves to cover it, leading to a bank run.
Central Bank Role: Central banks often set the reserve requirements and can influence the money supply through this and other monetary policy tools.
Inflation: If this process is not managed properly, it can lead to inflation, as an excessive increase in the money supply may drive up prices.
Conclusion:
The money creation process in fractional reserve banking is a powerful mechanism that allows a small amount of initial deposits to be multiplied into a much larger amount of money in the economy. It's a fundamental aspect of modern banking that facilitates lending and growth but must be managed with care to maintain stability and control inflation.
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