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.
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”.
