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12-year-old's damning critique of the banking system

12-year-old's damning critique of the banking system

(6:44) 12-year old Victoria Grant explains why her homeland, Canada, and most of the world, is in debt. April 27, 2012 at the Public Banking in America Conference, Philadelphia, PA.

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cengland0 cengland0 (2338 days ago)
Latest comment: Obviously she doesn't know how the banking system works. When you apply for a mortgage, the money is not created out of thin air like she said. The money comes from the deposit accounts of the other members. They pay interest to the depositors and charge interest at a higher rate to the lenders. The difference is the margin and is the gross profit of the loan. Additionally, if anyone thinks the banks are making too much money, then invest in them. The stocks are available for sale: Royal Bank of Canada's (RY), Bank of Montreal (BMO). YOU TOO CAN MAKE TONS OF MONEY -- just start your own bank.
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Latest comment: Obviously she doesn't know how the banking system works. When you apply for a mortgage, the money is not created out of thin air like she said. The money comes from the deposit accounts of the other members. They pay interest to the depositors and charge interest at a higher rate to the lenders. The difference is the margin and is the gross profit of the loan. Additionally, if anyone thinks the banks are making too much money, then invest in them. The stocks are available for sale: Royal Bank of Canada's (RY), Bank of Montreal (BMO). YOU TOO CAN MAKE TONS OF MONEY -- just start your own bank.
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glortman glortman (2342 days ago)
Safe to say she will NOT be invited to give her talk on TED. It is too 'political'.
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Safe to say she will NOT be invited to give her talk on TED. It is too 'political'.
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Samsgimp Samsgimp (2342 days ago)
I would be interested to see what she is up to in 10 years from now....
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I would be interested to see what she is up to in 10 years from now....
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Guest: a mercan (2341 days ago)
Yeah, I bet she'll be hot!
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Yeah, I bet she'll be hot!
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