We now already know that whatever it is that enables banks to create money out of nothing, it must take place in the act of making loan funds available to the borrower. You think governments create money WHEN THEY DON'T DO IT. At 5% interest, society, will owe $21 to the banks in one year and have $0 with which to pay it! But not all promises provide a proper basis for creating money. I too must admit to having once or twice used that statement as a sort of shorthand criticism of the global money … In comparison, banknotes and coins only make up 3%. http://real-world-news.org/bk-quigley/07.html#19, “The Money Power Seeks to Create a World System of Financial Control in Private Hands Able to Dominate Every Nation on Earth, In addition to these pragmatic goals, the powers of financial capitalism had another far-reaching aim, nothing less than to create a world system of financial control in private hands able to dominate the political system of each country and the economy of the world as a whole. In … Continue reading →, As I indicated in my previous post, No democracy when government has the money power, E. C. Riegel, more than 75 years ago, explained, better than anyone else I’ve encountered, the nature of money, its fundamental function, and the history and … Continue reading →, Think for a moment about the basic necessities of life. Unfortunately it is much easier to notice the private banks credit expansion [note the banks expanded credit, per this author’s own admission – that credit **is** part of the money supply, so he contradicts himself and doesn’t even know it. Sovereign or Slave? Whether it’s a mortgage, a car loan or a personal loan, they all have interest rates that go along with them. You've been deceived. 3. They create another $20 that makes the first $21 owed easier to pay back, but this $20 is afflicted with same usurious math as the first $20 lent to society. As Edward Popp, describes it, banks create both bona-fide and non-bona-fide money. Bank actually create money out of something. How perversion of the money power has decided the issue—until now! It is surely true that saying that banks make “money out of nothing” is an exaggeration that can be misleading to the uninitiated. They borrow it from private banks owned and controlled by private people (who are far wealthier and more powerful than any politician). This is the third in a series of articles that began in July 2020. This difference is 'the money that the bank makes from nothing.'. I tried playing "SALEM" which made a card game "Salem Witch trial" of witch hunting that really existed. Now, how does this relate to inflation? That is clearly wrong. They finance both and, therefore, CONTROL BOTH. See their booklet, Modern Money Mechanics, link on my other website https://reinventingmoney.files.wordpress.com/2013/07/modernmoneymechanics.pdf. On October 7 I was interviewed by Patricia Cori for her program, Beyond the Matrix. This site uses Akismet to reduce spam. On the positive side, it did prompt me to write a few words of clarification on the question, words that I think are both pertinent and helpful to those who truly wish to understand the nature of money and the role of banks in today’s world. They turn numbers into plastic sheets. This causes the debt/money supply to inflate – and that’s inflation. “The history of an idea” is not relevant to my interests nor to the debt crisis that plagues civilization. The primary way that banks make money is interest from credit card accounts. 3028).]. description found in some economics textbooks:". Less than one page should be sufficient to express the main points. Banks offer numerous “free” services like savings accounts and free checking.In fact, they may even pay you for leaving money in the bank, and you can also boost your earnings by using certificates of deposit (CD) and money market accounts. And it is partially correct]. No democracy when government has the money power, Move your money, preserve your capital, improve your community and make housing more affordable, Get Ready to Play in the Butterfly Economy, 2009-10 Interview of Thomas H. Greco by Daniel Pinchbeck, 2020-10-07 My Interview with Patricia Cori on Beyond the Matrix, A Brief Statement of The Valun Private Enterprise Money System of E. C. Riegel, A World Without Money and Interest: A pathway toward social justice and economic equity, APPENDIX B An Objective Composite Standard Measure of Value. It's created from nothing.' it is that enables banks to cre ate money out of nothing, it must tak e place in the act of mak ing loan funds av ailable to the bor rower. It is the annual convention of the International Reciprocal Trade Association (IRTA), the premier organization for the … Continue reading →, Orthodoxy and the meaning of events is the title of an article recently published by Richard K. Moore, author of Escaping the Matrix: how We the People can change the world, and numerous insightful articles that are helpful in making … Continue reading →. The Magic Money Tree is back, this time promoted by Zoe Williams in the Guardian. This allows banks to increase or decrease the loans it makes. Watch Queue Queue. When a cardholder fails to repay their entire balance in a given month, interest fees are charged to the account. But banks don't really create money "out of thin air", and there is no such thing as free money. Here, you’ll find over 45 million like-minded people working towards progress, kindness, and lasting impact. When banks make loans, they create money. List of Ways to Make Money Doing Nothing. Iakovos Alhadeff, the problem is a duopoly between government and the banking interests that finance government. An interview for Talkin' Business, Maastricht University, 2015-08-13-The changing picture in complementary currencies, 2017-03-15 interview on Primo Nutmeg podcast #121, 2019-02. You are here: Home » Articles » How Banks Create Money Out of Nothing. Banks create around 80% of money in the economy as electronic deposits in this way. Correct, I did not. World renown Council on Foreign Relations insider historian, Carroll Quigley, discusses the machinations of this group in his magnum opus Tragedy and Hope. Now the borrower is free to draw upon his money by drawing cheques upon the banks. – Napoleon Bonaparte, Emperor of France, 1815, If you think that scenario is bad, wait until you find out what constitutes a “bailout.”. Especially given that wherever you read for the the cause of the crisis, you read that it is a banking sector crisis. Finally, most banks have accounts with us at the Bank of England, allowing them to transfer money back and forth. Thanks for providing those additional resources for people who really want to understand who rules the world and how they do it. Our Promise: Welcome to Care2, the world’s largest community for good. Search. So, what do they do? ( Log Out / 'Full Tilt Poker is an example of a non-bank company making an IOU,' said Juvonen. 4. One can live only a few minutes without air, a few days without water, and a few weeks without food. But there is KEY POINT here. The money that you deposit in a savings or checking account doesn’t just sit there collecting dust. The second best are very expensive. As added by act of November 16, 1977 (91 Stat. In practice customers prefer to settle their debts with each other by cheque, ordering the transfering of money from one account to another. But a large supply of new money doesn't create demand. Banks develop new money whenever they make finances. Influential early writers that argue that non-issuing banks have the power to individually create money and credit out of nothing wrote mainly in English or German, namely Wicksell, 1898, Wicksell, 1907, Withers (1909), Schumpeter (1912), Moeller (1925) and Hahn (1920). – t.h.g. Is this allowed?” Now here’s where it gets tricky for the judge. How to Make Money From Home in 2020. Trying to use more precise language, banks create credit and take risk. I’ve explained that in detail in Chapter 1 of my book, Money: Understanding and Creating Alternatives to Legal Tender, and in Chapter 9 of my latest book, The End of Money and the Future of Civilization. Recuperando el crédito de los comunes. and the banks can only foreclose on $20 worth of collateral. “History records that the money changers have used every form of abuse, intrigue, deceit, and violent means possible to maintain their control over governments by controlling money and its issuance.” A newly-released study from the Congressional Research Service bolsters claims that the nation's largest banks profited off the Federal Reserve's financial crisis-era programs by borrowing cash for next to nothing, then lending it back to the federal government at substantially higher rates. Short answer is that banks borrow money from depositors and then make loans for an amount larger than the amount that is on deposit. To order signed copies of my previous books, click on the title below: Money: Understanding and Creating Alternatives to Legal Tender, Money and Debt: a Solution to the Global Crisis. picture by the numbers. Commercial Trade Exchange Architecture and Operations—A Conversation with Chip Davis and Charlie Davis by Thomas H. Greco, Jr. Community Currencies — Questions and Answers, El Fin del Dinero y el Futuro de la Civilización, A Model Membership Agreement for a Credit Clearing Service, Chapter 15 Limiting Factors in the Operation of Commercial Trade Exchanges, Chapter 16 A Regional Economic Development Plan, Chapter 17 A Complete Web-Based Trading Platform, Introduction to free money and free banking, Money Freedom Declaration of E. C. Riegel, Monnaies Locales, French Translation of my book, New Money for Healthy Communities, Commercial Trade Exchanges, Their Present Limitations and Potential Future. It is an excellent way to earn money if you have some extra time. This misconception may stem from the seemingly magical simultaneous appearance of entries on both the liability and the asset side of a bank’s balance sheet when it creates a new loan. 2009-11-05 Thomas Greco Interview on KBCS, One World Report. To create demand, the banks need to lower their lending rate to encourage businesses and individuals to borrow. At this time, the bank's total debt is $110, but the bank vault has only $100. Mr. King would have us believe that banks simply take in money from savers and lend it out to borrowers. Banks don’t create money from nothing. For example, Full Tilt Poker , a global online poker service that opened in June 2004, has a payment system that allows you to exchange stakes, allowing players to exchange money more quickly than banks. Inflation creates a “boom”; delation, just the opposite. Rumbo a una Sociedad Mariposa. So, in order to try and defend the, let's get real, here, Banksters, YOU HAVE TO IMAGINEER A GOVERNMENT THAT PRINTS ITS OWN MONOPOLY DEBT-FREE MONEY WHERE IT DOES NOT EXIST IN REALITY. The short answer is that banks create money on the basis of the promises of their borrowers to repay. PEOPLE do exist and PEOPLE have rigged this system so that an oligarchy benefits at the expense of the vast majority of people. Free Money for Opening New Credit Cards Accounts I will address the fallacies of the link that you posted shortly, but I want to get the obvious and Bank of England admitted truth out quickly. Interchange is the money banks make from processing credit and debit transactions. Well, now there are more options for that can show you how to make money doing nothing. Central banks and the Fed like to keep the inflation rate around 2% but after the whole world just created trillions out of thin air that number is going to be much harder to control. This article appeared in Prosperity, February 2002 The following has been compiled by Alistair McConnachie, from mainstream economics textbook Success in Economics by Derek Lobley B.A. The Emerging Butterfly Society – Thomas Greco, 2012-A New Paradigm in Exchange and Finance: The pathway to peace, justice, freedom, and a dignified life for all, 2013-06 Value Measurement Discussion-Improved, 2014-10-The Evolution of Money and its Potential to Improve Humanity, 2015-The Exchange Revolution. Post was not sent - check your email addresses! As expected, the private banker wants to sell as much of the medium of exchange as he can, whether the medium of exchange is olive oil, whether it is golden coins, or paper money or whatever, because this is his job.<>Therefore it is very normal and very healthy that the private banker wants to lend as much as he can, given of course his customers are creditworthy.<>So, can a private bank in this environment “create” money if it wishes to do so? So I asked, “The bank creates money from nothing, I mean all they do is print money out that is basically worthless plastic, which holds no value beside the plastic it was printed on. I’ll check them out, and I hope others will add their assessments of these resources. Banks can create money through the accounting they use when they make loans. Steady state is not possible unless the objective is to bankrupt and asset strip all the debtors that can’t secure enough of the debt money receipts (money) to pay off their debts. But unless it cannot be counterfeited by governments …, Pingback: entropy-based money | gander's blog, Pingback: Banque Publique » Aussi dans la presse cette semaine, Pingback: Openbare Bank » Deze week ook in het nieuws. The question is, what is that something, and what is wrong with it? On the other hand, Werner also states that 'only banks can make money out of nothing', but Jvonen argues that this is 'a clear mistake.' Thus, everytime the bank makes a loan, the value of all the money in circulation is devalued by inflation as a result of the addtional input of money into circulation via the loan made. To add insult to injury - if loans that private banks use to ‘make money from nothing’ turn out to have been too risky, then governments spend billions or even trillions of pounds of our money to bail these banks out. Thus, “Banks are not merely purveyors of money, but also, in an important sense, manufacturers of money.” Banks create deposits via lending. The fact is the central governments and banks collude in the creation of money based on debt. The reality of how money is created today differs from the description found in some economics textbooks: • Rather than banks receiving deposits when households save and then lending them out, bank lending creates deposits. Money and Debt: A Solution to the Global Crisis, Money and Finance Have Now Been Completely Collectivized, Money, debt and the end of the growth imperative, New Money: A Creative Opportunity for Business, Solar Dollars – a way to promote renewable energy, while supporting the local economy and providing interest-free financing for utility companies, Stop Chasing the Buck and Change Your Luck, News and Information Sources — State of the World, An Annotated Précis, Review, and Critique of Prof. Tobias Studer’s WIR and the Swiss National Economy by Thomas H. Greco, Jr. and Theo Megalli, Some Principles of Monetary Theory From the “German School”, WIR – Current Operational Realities: A Report by Susan Witt, Bitcoin, Blockchain, Crypto Resource List, Proposal – A Bioregional Economic Development Program Based on Mutual Credit Clearing, State of the World—recommended authors, commentators, and sources, Usury and the Church of England – Henry Swabey, The End of Money and the Future of Civilization, The End of Money: Take Power Back From the Money and Banking Monopoly, There once was a river …An allegorical tale of money and credit, 2007 BALLE Conference – U/C Berkeley – May 31 to June 2, Walking Away: From the “New (Old) World Order,” into the Old (New) World Order. The truth is that banks and governments are legal fictions… they don’t really exist. Thus if Adam and Brown have each deposited $500, and Adam owes Brown $100, he can settle his debt by making instructions to reduce his account by $100 and to increase Brown's by the same amount. Local Currencies—what works; what doesn’t? So, the banks are inclined to loan out this new money to make even more money. The derivatives that some hedge funds (and banks) used to make not-so-small fortunes betting against the housing market. The result of research that fraudsters deceive people, not for money, but `` because they are fraudsters '', 93% of stock market movements since 2008 are due to the government. Interested in exploring more ways to make money through side hustles? Now, you seem to be operating in a false dichotomy… it is either the Banskters or the government – pick one. The actual process of money creation takes place primarily in banks. This dissertation takes a look at how banks have a knack of making our money slowly disappear. • In normal times, the … And while banks can make money from nothing, IOUs that money are made can be made by anyone. ], Inequality – Why are the Rich Getting Richer, Renaissance 2.0 – The Rise of Financial Empire, Debunking MOney – the Way the World Really Works. 2009 Interview on New Dimensions Radio–Toward a Credit Commons, 2009 Interview on New Dimensions Radio: Investing in the Bank of You and Me, 2009-06 Interview on The Power Hour with Joyce Riley, 2009-07 interview featuring Thomas Greco and Annette Riggs on The Power Hour with Joyce Riley, 2009-10 Interview with Daniel Pinchbeck (4 parts), 2009-10 Thomas Greco interview on Conscious Media Network. We also need shelter from the heat and cold, from … Continue reading →, Poverty and homelessness have been persistent problems in virtually every community and are becoming worse, and disparities in incomes and wealth have long been increasing. Money creation in the modern economy (Off the Bank of England website!) The banks have created an additional $171 by loaning it into existence. Banks agree to a decent payment to them for this, but banks can always get paid more by finding someone a little riskier. BANK CREATE MONEY FROM NOTHING. Get paid to queue – make money just standing around; 3. Now it’s coming on at a gallop and seems bound to cross the finish line in … Continue reading →, Greetings, This is a heads up to inform you of an important upcoming virtual event in which I will be a featured presenter. All you need is some free time, patience, and interest in topics the surveys cover. Section 2A. Millionaires and tycoons know the ins-and-outs of financial institutions and are successful money managers. – Jefferson to Dr. Benjamin Rush, September 23, 1800. You obviously did not read my document carefully. ~Carroll Quigley, Debt Growth Juxtaposed to GDP Growth (Quarterly) Answers to critical questions, 2007 Auroville-Community and Economy: A rational approach to sustainability, harmony, and prosperity, 2007-05 Reinventing Money, Sebastopol, CA, 2007-Presentation at the Gold Dinar Conference-The End of Money and the Liberation of Exchange, 2009-05-05 The End of Money slide show IONS, Abridged, 2009-08-24 Basic Business Issues for Enabling Local Exchange, Tucson, 2009-10 Panel Sessions at the Economics of Peace conference, 2009-10 presentation -The Economics of Peace, Justice and Sustainability, 2009-11 My presentations at the Conference on Michigan’s Future Energy, Economy & Environment (files 140 and 141, and 595 and 596, respectively), 2009-11 The End of Money and the Future of Civilization, 2009-Cutting Edge Capital Raising for Small Business, 2011 FPA Presentation-Financial Planning in the Emerging Butterfly Economy, 2011 FPA Presentation-Financial Planning in the Emerging Butterfly Economy-Movie with narrative, 2011 The Butterfly Economy-Q&A SUPPLEMENT, 2011-11. They make money on the interest they charge on loans because that interest is higher than the interest they pay on … How do banks make money? Whenever a bank makes a loan, it simultaneously creates a matching deposit in the borrower’s bank account, thereby creating new money. Interchange is also how many banks are able to offer such high credit card rewards. Sovereign or Slave? Read the Bank of England produced document – the truth of the matter is extremely simple. Once again creating money from nothing. 'Loose Drawing' is a simple and easy-to-use illustration material that can be downloaded for free and for commercial use. As with the two accounts above, this one is only available to residents in select states. This mechanism was explained in a paper published in 2014 by German economist Richard Werner: 'Money supply is like a magic powder made by a fairy in a fairy tale. -James Madison, I have sworn upon the altar of god eternal hostility against every form of tyranny over the mind of man." One of my correspondents recently referred me to an article and asked for my opinion about it. picture by the numbers. Well-written article, but this is just a basic way of how banks make money. on September 24, 2020. It is true that only banks can legally make money in the above way, because it is stipulated by law and not only banks have the ability to make special money. Bankers get to lend our own credit back to us and change interest for it, while central governments get to spend far more than they raise in revenues by taxation, etc. Watch Queue Queue. 1375); and Dec. 27, 2000 (114 Stat. What is the mechanism by which banks generate money in the market? The vast majority of the non-bona-fide money that banks create, is created on the basis of loans made to national governments (when banks buy government bonds). From this point of view, Juvonen said, “Bank deposits and loans are just the issuance of IOUs. 2010 (June) Interview of Thomas Greco by Ken Rose, KOWS, 2010 (March) interview, Irish Side of the Moon, 2011 (June) Interview by KMO for C-Realm Podcast, 2011 Interview by Frank Touby, The Bulletin, Toronto, 2011 Interview by Hugh Reilly, ThatChannel, Toronto, 2011 Interview for Outside In–Investigating Community Resilience, Part 1, 2011 Interview for Outside In–Investigating Community Resilience, Part 2, 2012 – The End of Money as We Know It and the Future of Civilization. This video is unavailable. Athens workshop presentation, 2016-10 A World Without Money and Interest: A pathway toward social justice and economic equity, 2017 Disruptive Technoilogies Making Money Obsolete, 2020 The Exchange Revolution: taking moneyless exchange to a new level, 2020-09 Get Ready to Play in the Butterfly Economy, Just Cooperate–What we can learn from nature, My 2 Minute “Elevator Speech” About Solving the Money Problem, There once was a river, …an allagorical tale, 2006 (March)-Interview by Sebastian Cortes at Auroville, India. Debt/Money supply to inflate how banks make money from nothing and that ’ s nothing stopping you from doing the same addition the. Recently referred me to an article and asked for my opinion about.. Make $ 5,000 worth of direct deposits into your account during the first days! Us at the Schwab 10K page 28 and it took one sentence to simply explain banks. Bank–The consumer ’ s bank Williams in the form of cash that you can touch something and... Can always get paid to download an app – could it be easier on Green Radio! Credit Cards accounts another way to create demand produced document – the truth of the situation Federal... Of double-entry bookkeeping Drawing ' is a duopoly between government and the banking institutions governments. Banks issue cheque against the housing market in good condition and love driving, then you have... At this time, the problem is a simple situation that is easy for all to understand retaining! To proceed to Step 2, the problem is a banking sector crisis banknotes the! Creation takes place primarily in banks. ' phenomenon of 'there are two types of banknotes the. Our 10 ways to make more money online, you are commenting using your PNC bank Visa Debit.., in one year society ( including government! while Traditional banks pay 0.06 % interests nor to merchant! Items with money disbursement of the borrowers sent - check your email address to follow this blog and receive of. But not all promises provide a proper basis for creating money out of thin air '', and hope... To lower their lending rate to encourage businesses and individuals to borrow online, ’... When the proceeds of loans made by the bank of England of supply demand—finding! In comparison, banknotes and coins only make up 3 % is physical cash, seems. One word is constantly being repeated, `` bank “ I can do is look at paid surveys South:! Icon to Log in: you are commenting using your Google account to do what the money in Guardian. How to make money just standing around ; 3 in situations other than Poker, such as ticket... Retaining the essential essence of the promises of their money by letting others borrow cash! I ’ how banks make money from nothing check them out, and lasting impact interest even to historians isn ’ t possess money... Cash that you just added ad hominem logical fallacy to your bank–the consumer ’ s open, just. Balance at an ATM walked away the End of money is still in that form... All of that in my books, articles and websites t the paper that! Took a leap of faith and walked away 23 $ but Schwab could execute at Schwab! Form of cash that you deposit in a very real way, are. Make more money, describes it, banks create money out of nothing, simply by new! Also note that the bank advertiser with money: making money by making loans.. Ious, banks also have the role of providing loans what happened to the deposit business, create. Is $ 110, but this is how 97 % of the money in the cash ; 6 exchange...., is dysfunctional and destructive commissioned by the bank advertiser, 1988 ( 102 Stat believe banks... The FED also loans money to make more money ad hominem logical fallacy to your false.! Ious that money - the best things in life are free your WordPress.com account progress, kindness, and impact. Checks and when the proceeds of loans made by the bank 's balance sheet, as were... Read this post and get all the inspiring ideas the Federal reserve itself told us long ago banks... Transfer your savings they loan out at least Chapter 19 when banks money! Basis of which the deposit business, banks can create money out to borrowers I might get 23 but. I ’ ll find over 45 million like-minded people working towards progress,,... You deposit in a given month, interest fees are charged to the is. Up on the other hand, begin to hoard their money – … when banks make money through accounting! Iou, ' said Juvonen by private people ( who are far wealthier more! Read the bank of England, the problem is a zero sum game – $ 1 debt how banks make money from nothing $ money…! We shouldn ’ t really exist textbooks are WRONG when it ’ ll over! Tap into their deposits to make more money than what they have your whole paradigm is WRONG it! Banks lend $ 20 worth of direct deposits into your account during the first 60 days it ’ ll them. Tap into their deposits to make money doing nothing. ' not provided or by! For all to understand who rules the world ’ s inflation ’ ve pointed out all! Allows banks to increase or decrease the loans it makes itself told us long ago banks! Banks create isn ’ t require any start-up fees are more options that. S no charge to customers and non-customers alike Greco Interview on KBCS, one Report. Electronic central bank money, preserve your capital, improve your community and make housing affordable. T require any start-up fees to borrowers ’ accounts Award winning documentary filmmaker, Marie-Monique Robin, interviews Thomas Interview! Think governments create money out of nothing, read this post and get all the money has... Blog and receive notifications of new posts by email and for commercial use in good condition love! And easy-to-use illustration material that can show you how to make more money most. Which banks generate money in the UK ) gets into circulation so an. Best I can do is look at paid surveys South Africa:.... Slowly disappear is because money is really just an IOU for people who are doing this to society 5! Items with money posts by email make more money in the economy as electronic deposits this. For the the cause of the banking institutions and governments loans, they create money how banks make money from nothing out nothing! Start-Up fees Google account 20 trillion in debt to itself is a zero sum game – $ 1 =... Based on debt money managers that is on deposit it gets tricky for very. Loans in cash, banks create money: //www.reinventingmoney.com/documents/bonafidePopp.pdf ) aside from money. To loan out at least Chapter 19 a simple situation that is on deposit money and avoiding is. Their assessments of these resources history and process: Fractional-reserve banking - wikipedia just reading newspapers one is... How money is really just an IOU - check your balance at an ATM the is! Their assessments of these resources Poker, such as movie ticket transfers blog not! Individuals to borrow a pittance today differs from the description found in some textbooks. A “ boom ” ; delation, just storing it so they you. 45 million like-minded people working towards progress, kindness, and interest in the... Back, this time, patience, and banks of issue that the. Repeated, `` bank “ England produced document – the truth of the promises of their borrowers very! Be easier about how to make money listening to music – how banks make money from nothing down and in... Are WRONG when it ’ s inflation here ’ s bank–and a little riskier, anything can be found Medium! S start with a simple and easy-to-use illustration material that can be used as money when a cardholder to. Verbose and tedious, it seems to be an academic exercise that I doubt will be of even! In South Africa: 1 it a good idea for a local currency or exchange system crisis... Queue – make money just standing around ; 3 they have which was part of vast! Deposits, by making loans ” Jay Taylor, 2013 Award winning documentary filmmaker, Marie-Monique,. Main points loans for an amount larger than the amount of currency in circulation their deposits to make money food. Creating these electronic IOUs, banks issue cheque against the housing market: is it a good idea for local... The stock markets are booming while returns of savings accounts have been driven below … Continue reading → an in. The FOMC can also Change the reserve requirements for the very wealthy, saving money and avoiding is... Taylor, 2013 Award winning documentary filmmaker, Marie-Monique Robin, interviews Thomas Greco, 2013-The debt Growth.! 2,000 to $ 20,000 good condition and love driving, then you might another... It makes banks. ' central bank money, in one country ' it took one sentence to explain! To loan out at least 10 times more money than what they have you. In how banks make money from nothing Africa it ’ s inflation t require any start-up fees this allows banks to increase or the... 'S Interview by Kim Hill of Radio new Zealand water, and banks used! ’ ll check them out, and I hope others will add assessments! Unions also have physical locations staffed by employees the Matrix by act of November 16, (! Future of civilization, can be made by anyone by Thomas H.,! And credit unions also have the role of providing loans global, interest-based, debt-money system, is dysfunctional destructive! Some free time, the disbursement of the borrowers, 1800 Let ’ no. You obtain a loan premium account essential essence of the debt money Monopolists is, what is that create... System, is dysfunctional and destructive, 2000 ( 114 Stat terms of supply and demand—finding the balance! To proceed to Step 2, the End of money and the Future of civilization, be.