CONFIRMED: Loans & Mortgages are created out of thin air by the Banks

'This stunning news clip from New Zealand TV station 'Seven Sharp' confirms the revelations shared by 'The Money Masters' and other such pioneering thinkers and researchers who have long sought to bring forward the truth about how money works. The is as stunning as it is simple: whenever you apply for a loan or a mortgage THE BANK YOU APPLIED TO CREATES THE MONEY OUT OF NOTHING. It is not lent to you from the banks' holdings, it is not borrowed from other accounts. It simply is entered into a bank account digitally and from that day forth you are contractually responsible for paying back the created money PLUS all the interest that accrues. This fiat currency is destroying the confidence, trust, and agreements that we hold with one another and with merchants on a daily basis by corrupting the medium of exchange that we all collectively agree to use.'

What they stop short of saying in this clip is that all the banks are doing is letting you access your own credit. They simply act as the 'pass-through' agents who, at best, should only be entitled to a small handling fee. Banks don't create money any more than governments do - all funds are created by the people through their labours. Where else could wealth come from? Without the labour and creativity of the people there could be no real wealth or assets at all.