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How do banks make money? - The History of Money (7/10)

OpenLearn from The Open University 8 views

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@adamcrookedsmile
 you need to stop this myth that banks are just money middlemen, banks CREATE MONEY when they give out loans via Fractal Reserve Banking Banks are the SOURCE of money, not money mediators This ought to have been made explicit in the videobrbrI would have expected better from a university Google "Bank of England Money Creation" and read what the Bank of England as to say in their PDF document on this issue Thanks I hope for a corrected video soon
Comment from : @adamcrookedsmile


@Indrius
 Did it really happen in 2007? The banks started collapsing in September of 2008 as far as I remember
Comment from : @Indrius

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