| Title | : | Richard Werner Explains How He Proved Money is Created Out of Thin Air |
| Lasting | : | 8.06 |
| Date of publication | : | |
| Views | : | 5,8 rb |
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So does that mean I don't have to repay my bank loan??? Comment from : @simonwong5920 |
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In the US its clearly explained in 12 USC Section 412 Your signature and agreement creates the collateral the bank needs for the Fed to create the new currency ie Federal Reserve Note that is an obligation of the US Corporation Company Comment from : @kevinhoward5520 |
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He is correct Banks are allowed by law via a licence to book a liability into a deposit Bank always wins But those that borrow also The cost is collectivized through inflation Comment from : @Belgium_citizen |
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In short it is really simple Banks are authorised to create money "digitally" by just typing but I guess they must have some deposit margin as well not a brainer Why should we care about it as long as inflation is under control I wish individuals are not allowed to scam people like that Comment from : @kakhaval |
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I didn’t understand this And I studied business management 😂 can you explain it better? Comment from : @luismiguelandrew |
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They didn't tell us this when I was studying Economics! Comment from : @Amuse-l9q |
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Fiat currency is made-up bs Comment from : @richtea615 |
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