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<p>[QUOTE=&quot;fatima, post: 1314396, member: 22143&quot;]The explanation is simple.&nbsp; They don&#039;t want every Joe Blow (ordinary people) opening a bank and creating money via FRB.&nbsp; &nbsp; Before a bank can be chartered, its owners must demonstrate they have they have, and can maintain, a minimum amount of reserves &amp; capital before they can join this exclusive club.&nbsp;&nbsp; Else they can&#039;t join the Federal Reserve or get FDIC insurance which effectively prevents them from being a bank.&nbsp; As it stands now, if a chartered bank fails to maintain &quot;standards&quot; the FDIC gets to kick them out of the club, seize their assets and hand them over to another bank.&nbsp;&nbsp; As I said many posts back, the primary purpose of the FDIC isn&#039;t to insure depositor&#039;s money.</p><p><br /></p><p>For fiat money to work the people have to believe it&#039;s worth something and they won&#039;t if anyone could open a bank.&nbsp; It&#039;s one of those contradictions that nobody will discuss and which most won&#039;t even believe.</p><p><br /></p><p>(Of course it&#039;s obvious they broke all these rules for the TBTF banks, but remember, the rich are not like you and I.&nbsp; They get different rules.)[/QUOTE]</p><p><br /></p>

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