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Die meisten Leute wissen nicht was Geld ist Wenn man dieses Buch liest, dann wird man ein bisschen schlauer This book should be required reading for politicians, policy makers and economists, whose models still ignore banks and fail us It clearly explains the surprising fact that it s private banks that create money, not governments or central banks The only money the central bank can print is paper money which is now only a couple of per cent of the money supply The book also puts to bed the widely held myth that the source of bank loans is the deposits of savers Far from it Banks create credit by the simple and cost free act of an entry in an electronic register.
This, of course, is the opposite to how the general public not to mention politicians, policy makers and economists sees the money system working In fact, it sounds so unlikely that it seems a little conspiratorial But it s fact and this book, supported by sources including central banks themselves, he How new money is created is widely misunderstood This book provides a well researched, authoritative, and readable account of how the monetary system currently works in the United Kingdom, a description which in its general outline is applicable to the United States and to most other advanced economies in the world as well The authors central conclusion is that almost all money in general circulation today 97% is created by commercial banks when they extend credit, either through making loans or buying existing assets.
This book s analysis is neither radical nor new The book Where Does Money Come From was recently cited in the Quarterly Bulletin 2014 Q1 of the Bank of England s Monetary Analysis Directorate, and its central conclusion was corroborated If you are interested in finding outabout this, search for bank of england and mon
The best condensed primer on what the financial structure consists of in terms of actual functionality instead of abstract theory which has proved to be misleading in the extreme Banks don t lend from funds collected from depositors They create money out of nothing Theory says this is what is called fractional reserve banking Nothing doing This is a deception That s what the financial system is An edifice constructed out of blind trust on the part of those who prefer ignorance on the one hand and those who on a daily basis take advantage of that trust to stuff their pockets with ill gotten gain on the other read all about it here.
Outstanding book on the truth about banking and money.