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RE: What I Learned in the Zeitgeist Movement | Part 3: "Debt-Machine"

in #money • 7 years ago

You may be right, it could all just be BS and they could just put whatever they want in a computer. Anyway I did find the article. It is from the Bank of England. So if you are looking for a primary source document.

https://www.monetary.org/wp-content/uploads/2016/03/money-creation-in-the-modern-economy.pdf

7 years ago in #money by
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     7 years ago 

    This article explains how,
    rather than banks lending out deposits that are placed with
    them, the act of lending creates deposits — the reverse of the
    sequence typically described in textbooks.(3)