1) Will you do me a favor? Look at any paper money you might have and notice that "Federal Reserve Note" is on all of them (not always in the same spot).

What is a NOTE? it's a promise to pay. It's an IOU. Any loan that you have signed for from a mortgage to a car loan... 2)...and even credit cards - you signed a NOTE.

Back to the dollars - are you sitting down? These are Federal Debt (gasp!) that don't earn interest. Scary huh? 😆 Your asset/their debt. It's an accounting thing.

Now let's kick it up a notch.

1) Thank you @elliswinningham on FB:

"“Why do banks want new customers or current customers to make deposits if not to lend out those deposits?”

Because bank customers are the cheapest source of reserves.

Banks that are short of reserves can:

1.) Obtain reserves on the... 2)... interbank market, which carries a price.

2.) Get them from the central bank, which really puts the cost up.

3.) Sell bonds to the central bank.

OR...

4.) Entice new customers to open an account, or encourage current customers to make a deposit.

This last bit, number...

1) Yesterday, Bernie proudly included a #Fedjobguarantee in his speech in NY.
Do U know/understand what that is about? Do you know that Fed Gov policy DELIBERATELY creates unemployment? What they call "full" employment is actually 5% unemployment - which is millions... 2) of people who would like to find work that pays them enough to live on. It overlaps with a #GreenNewDeal & would help transition returning Veterans, people from the insurance industry & fossil fuel industry who might lose their jobs.

Please see videos in the comments.