They get a $1,000 deposit from you. They pay you nothing or next to nothing but, loan that $1,000 out 9 times and collect interest on 9 loans.
quote;
In 1913, before the Senate Banking and Currency Committee, Mr. Alexander Lassen made the following statement:
But the whole scheme of the Federal Reserve bank with its commercial-paper [...]
By Irwin Kellner, MarketWatch
“Perhaps they are taking their cue from the recent drop in oil prices. After all, the earlier jump in the price of petroleum is generally recognized as the main reason why inflation heated up in the first place.
Or maybe they buy into the argument that the economy will slow enough to prevent [...]
WASHINGTON (MarketWatch) - New construction of U.S. houses plunged to the lowest level in 17 years in March, the Commerce Department estimated Wednesday. Starts fell 11.9% in March to a seasonally adjusted 947,000 annualized units weaker than the 988,000 pace expected by economists surveyed by MarketWatch. This is the lowest level of starts since March [...]
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