Under fractional lending, banks are only required to have 10 percent in reserve, which means they can “lend” out $100 for every $10 they actually posses. This is why all economic debates between Republicans and Democrats are meaningless; they don’t address the core issue, which is that 90 percent of all principal in circulation from various loans is counterfeit and was created out of thin air. Obviously, as such, it can never be retrieved, and every penny of the usurious interest rates on every loan is imaginary, again conjured up out of nothing.
Donald Jeffries, Hidden History: An Expose of Modern Crimes, Conspiracies, and Cover-up in American Politics, pg.318-319