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Author Topic: A change for our financial systems  (Read 157 times)

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A change for our financial systems
« on: December 01, 2018, 01:11:45 PM »

In the last fifty years we have seen the following changes in our financial systems:
 The removal of the Gold Standard - Gold Standard was monetary system that directly links a currency’s value to that of gold. In 1971 the U.S. completely severed the link between gold and the dollar. The U.S. now has a fiat money system, meaning the dollar’s value is not linked to any specific asset. Fractional Lending – this is a banking system in which only a fraction of bank deposits are backed by actual cash on hand and are available for withdrawal. Eg: if you deposit $1000 into your bank account the bank will hold $100 and loan out $900 which goes out into circulation and back into a different bank, this time $90 is held by the new bank and $810 is lent out and the cycle continues, making money out of thin air


 

Financial Action Task Force (FATF) amends global-AML policies so did Money Trade

Started by uzair

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Last post August 26, 2018, 12:33:42 PM
by uzair

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