David
Pocomoke,#2Consumer Comment
Sun, February 01, 2009
First, interest rates on home loans are the lowest they've ever been. Under 5% on a 30 year fixed. There are many programs available that will allow you to refinance your loan. With regards to the Fed, it will not collapse, it goes hand in hand with Treasury Department. It is NOT "owned" by banks. Banks give up certain amounts of stock to be a member of the Fed. And if you knew anything, you'd know that "the banks are going to take over all of us" are much closer to the brink of collapse than most people realize. In my personal opinion, there is only one big bank that will still be around in a year.
James
Orem,#3Consumer Comment
Sat, January 24, 2004
The author of this report is missing the larger ripoff. The Federal Reserve is not a government agency. It is owned by large banks. It is allowed by law to create nearly all the US money in existence, as loans to the consumer. Trillions of loan dollars, created by a private company. The fractional reserve policy allows banks to create money from nothing, using very little in deposits for backing. This means you borrowed non-existent money, which is backed by real assets and which you have to pay from real labor. Now there is one heckuva ripoff. Someday this ripoff will collapse and implode, but who knows when. I expect that then the banks will own everything, as the unpayable loans are called. Just my humble opinion.