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NEW YORK (MarketWatch) — Eaton Corp. on Monday is forecasting a U.S. economic recession starting in the fourth quarter, with a possible recovery beginning at the end of next year, Chief Executive Alexander Cutler said Monday in a post-earnings call. The Cleveland company, which makes electrical, aerospace and automotive markets, predicts “an extremely difficult environment” [...]

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.
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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 [...]