how does fractional reserve banking work? Today we cover a survey done by Genesis Mining to determine what average Americans believe the fed does, who owns the Fed, how much money do banks need to hold in reserve. The crazy part is 91% of respondents didn't know banks are only required to hold 10% of deposits in reserves. Also not surprising 30% of Americans believed the Dollar is still backed by gold many just answered "I don't know". The results reveal the solution to our current problem begins with education about our economy.
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how does fractional reserve banking work? Today we cover a survey done by Genesis Mining to determine what average Americans believe the fed does, who owns the Fed, how much money do banks need to hold in reserve. The crazy part is 91% of respondents didn't know banks are only required to hold 10% of deposits in reserves. Also not surprising 30% of Americans believed the Dollar is still backed by gold many just answered "I don't know". The results reveal the solution to our current problem begins with education about our economy.
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