Standing next to a stack of real money of exchange, a spokesman for the Bank Of England explains how when banks make loans, they create money out from nothing, as opposed to lending it from deposits.
An article from the Guardian explains it all HERE
Friday, 21 March 2014
Bank Of England finally admits that bank lending creates money from thin air
Standing next to a stack of real money of exchange, a spokesman for the Bank Of England explains how when banks make loans, they create money out from nothing, as opposed to lending it from deposits.
An article from the Guardian explains it all HERE
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