The Last Time Banks Did This... They Caused A Financial Crash w/Richard Wolff HD

Banks make their money from depositors by lending to others. Banks lend out almost all the money they have on deposit and this means that there could be a bank panic if a lender can’t retrieve their deposits. The banks are supposed to hold a percentage of every dollar in reserves, which means they have a large pile of money. What happens if the government wants to stimulate the economy, by telling the banks they can lend out part of their held deposits or all of it? The last time the banks were able to lend out their reserves... we found ourselves in a global financial crash! Dr. Richard Wolff explains to Thom how all this works. ➡️Please Subscribe to Our Channel: https://www.youtube.com/user/thomhartmann?sub_confirmation=1 SUPPORT THE PROGRAM ► Join us on Patreon: http://www.patreon.com/thomhartmann where you can also watch a re-run of the three-hour program at any time AUDIO PODCASTS ► Subscribe today: http://www.thomhartmann.com/podcast EMAIL NEWSLETTER ► Free subscription: http://www.thomhartmann.com/podcast FOLLOW THOM ► AMAZON: http://amzn.to/2hS4UwY ► BLOG: http://www.thomhartmann.com/thom/blog ► FACEBOOK: http://www.facebook.com/ThomHartmannProgram/ ► INSTAGRA : http://www.instagram.com/Thom_Hartmann ► PATREON: http://www.patreon.com/thomhartmann ► TWITTER: http://www.twitter.com/thom_hartmann ► WEBSITE: http://www.thomhartmann.com ► YOUTUBE: http://www.youtube.com/subscription_center?add_user=thomhartmann ABOUT THE PROGRAM The Thom Hartmann Program is the leading progressive political talk radio show for political news and comments about Government politics, be it Liberal or Conservative, plus special guests and callers #MoreFromThom ✔ Amazon links are affiliate links