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The Survival Economist: This is How the Private Banks have a License to Create Money out of Thin Air


The Survival EconomistPremiered May 22, 2022 Private banks can basically create new money as they wish. That used to be the privilege of the mint of princes and governments. It’s a privilege to create money and therefore profits out of nothing. This privilege has been in the hands of the financial industry for a long time, and in recent years, it’s been unchecked. It is not the central banks but the private banks that generate most of the money. A process is also known as deposit money creation. Money is created when someone goes to a bank to take out…

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