by Summary:
Banks Create Money, Not Save It.
Topics:
Steve Keen considers the following as important:
This could be interesting, too:
Banks Create Money, Not Save It.
Topics:
Steve Keen considers the following as important:
This could be interesting, too:
Mike Norman writes Xu Gao’s case for stimulus—Chief Economist of Bank of China International tears apart the opposition — Yuxuan JIA and BU, Xiaoqing
Michael Hudson writes Debunking U.S. Bankruptcy Myths
Mike Norman writes Wholesale Payments Systems and Bank Reserves — Brian Romanchuk
Mike Norman writes The Myth That the US is Rapidly Approaching Bankruptcy — Michael Hudson
| Banks Create Money, Not Save It. |
I think the idea, that banks do create money, still gets money wrong.
Money is an accounting system of debt, but not a token or whatever, which can be created.
Therefore not banks do "create money" but the debtor going into debt. In my opinion, the idea of "money creation" lacks, where the real debt origins.
If the old system was similar to scoring and record keeping a ritual type seasonal sequence of sowing, working, and reaping of harvests, then the invention of money as a scoring register, a measure of product exchange for goods and services makes MMT type provisioning sense, and so does the protection of health and wealth of the workers as Michael Hudson's analysis shows.
Banks are all kinds of management good and bad.