| Title | : | The Bank of England explains how commercial banks create money out of thin air |
| Lasting | : | 0.21 |
| Date of publication | : | |
| Views | : | 11 rb |
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Truth be told Reserve Banks may make advances directly to individuals, on their promissory notes, secured by a certificate, direct obligation of the United States, fully guaranteed as to principal and interest, by or through federal agencies account numbers assigned to individuals SEE Federal Reserve Act, Section 13, paragraph 13 Comment from : @zadokisrael9195 |
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It‘s funny how many people here don’t get the link between capitalism and the Industrial Revolution If we don’t loan deposits to reinvest into the economy The economy is literally unable to grow and banks can’t loan any money to anyone Comment from : @mumianhaas2356 |
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Is he saying, private banks create money out of thin air and give it value by taxing the labour of the population, plus making them pay compounded interest for the pleasure?brAnd why is no one commenting on this? Comment from : @PhilipMatthewsPAEACP |
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I am not getting the accent, anyone help me out Comment from : @BARUNHALDERonenonly |
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