Credit Creation

  The most important feature of banks: credit creation (Extracted from: New Paradigm in Macroeconomics, Richard Werner*, Palgrave Macmillan,2005; pp. 174-180) http://leconomistamascherato.blogspot.com/2010/04/most-important-feature-of-banks-credit.html Many economics textbooks that mention banks still acknowledge that they can 'create credit'. However, it appears that the original meaning of this expression has been lost.Those textbooks and authors that mention the words… Continue reading Credit Creation

Advertisements

The Grip of Death

I was recommended this book somehere!http://prosperityuk.com/books-on-monetary-reform/grip-of-death-michael-rowbotham/I am as McDonald's say "luvin it!"My degree includes Economics and it is wonderful to read something that brings together many loose threads and discusses myriad illogicalities.Rowbotham uses the phrase "debt based financial systems."I just checked wiki and the government only creates 2% of the money in circulation in Britain… Continue reading The Grip of Death