Location : Wabbit Hole
Job/hobbies : Cayman Islands Actuary
|Subject: The Banking Secret that Neither Economists Nor Laypeople Know
Which Makes the Fatcats Richer, While Destroying the Real Economy Tue Mar 14, 2017 3:06 am|| |
|Private Banks Not the Government or Central Banks Create 97 Percent of All Money|
Who creates money?
Most people assume that money is created by governments
or perhaps central banks.
In reality as noted by the Bank of England, Britains central bank 97% of all money in circulation is created by private banks.
Bank Loans = Creating Money Out of Thin Air
But how do private banks create money?
Weve all been taught that banks first take in deposits, and then they loan out those deposits to folks who want to borrow.
But this is a myth
The Bank of England the German central bank have explained that loans are extended before deposits exist
and that the loans create deposits:
Anarcho Capitalists Retail , Molyneux Cult Watch Souvenir Mall , OZschwitz Downunder BoutiqueAnarcho-Capitalists,AnCaps Forum,Anti-State,Anti-Statist,Inalienable Rights Defenders,Non-Aggression Principle,Non-Initiation of Force Principle,Rothbardians,Anarchist,Capitalist,objectivism,Ayn Rand,Anarcho-Capitalism,Anarcho-Capitalist,politics,libertarianism,Ancap Forum,Anarchist Forum,Vulgar Libertarians,Hippies of The Right,Forum for Anarcho-Capitalist,Forum for Anarcho-Capitalists,Forum for AnCap,Forum for AnCaps,Libertarian,Anarcho-Objectivist,Freedom, Laissez Faire, Free Trade, Black Market, Randroid, Randroids, Rothbardian, AynArchist, Anarcho-Capitalist Forum, Anarchism, Anarchy, Free Market Anarchism, Free Market Anarchy, Market Anarchy