Money Created Out of Thin Air

moneyIt might be hard to absorb, but the fact is undeniable. Banks create money out of thin air. When you go to your local branch and apply for a mortgage loan to buy a house or apply for a personal loan to buy a car, you might think that the bank needs to have that money in its vaults to be able to lend it to you. Wrong.

Read more at: The Australian independent Media Network

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