Banks earn their money, among other things, by transferring debts to money capital, i.e. by endowing their solvency with means of payment covered by the legally secured power to incur debts, which in turn arises from the special nature of […]
The credit creation of private banks
Among other things, we try to establish a connection between the credit creation of private banks (and the central bank), general indebtedness and economic growth under capitalism, and all this with the inclusion of a critique of Modern Money Theory.This
Credit Creation, Debt and the State with Special Reference to and Critique of Modern Money Theory.
As early as 400 years ago, English goldsmiths began to create paper money by administering their customers’ gold coins and issuing a kind of certificate on them (indicating the amount of gold they had stored) and then lending it as
The miraculous credit creation of private banks