Πέμπτη, 5 Ιουλίου 2018

MONEY CREATION BY PRIVATE BANKS


The big scam. Or, How the rich get richer at our expense.

A DW Documentary worth seeing:


And what do “we the people” do? Nothing, primarily because we don’t understand the problem.

Have you ever thought about where money ultimately comes from — not in the sense of how you personally manage to accumulate some, but rather, how money arises in the first place?

How money creation works now

Money is created by commercial banks whenever someone signs a mortgage loan agreement, runs up a credit-card debt, or borrows to buy a new car. New loans create new deposits by means of double-entry bookkeeping entries in the banks' ledgers.

Currently, more than 90 percent of all money in circulation worldwide is created as electronic "book money" recorded in commercial bank spreadsheets as a consequence of the banks' making loans. This "book money" is not created by the central bank, and it is not central bank money.

 

P.S.: In any event the world’s monetary and financial system, including Central Banks is, in reality, controlled by powerful financial interests, as a reminder of Thomas Jefferson’s prophesy 100 years ago: “When the banks become stronger than the governments national states, that will be the end of democracy”.

Δεν υπάρχουν σχόλια:

Δημοσίευση σχολίου