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Ad Majorem.....Wealth Builders

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Under the fractional reserve system, the funds do not exist - they are virtual

Ad Majorem.....Wealth Builders

Rizal Philippines
September 8, 2016

Under the fractional reserve system and the currency system under the fiat system, a P100 deposited for banks with required reserve of 3% can multiply up to P3,333  Only P100 is the only real thing in the system.

Hence the when the financial system collapses, there is nothing left.

The whole financial system is a magic - virtual

Compounding interest as the Eight Wonder of the World by Albert Einstein

Ad Majorem.....Wealth Builders

Rizal Philippines
September 8, 2016

According to Albert Einstein, "Compound interest is the eight wonder of the world.  He who understands it gets it;  those who do not pay it."

From Goodreads

“Compound interest is the eighth wonder of the world. He who understands it, earns it ... he who doesn't ... pays it.”

― Albert Einstein

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