by yoananda » 13/11/09, 16:38
Yes, except that Grignon's video is falsely simplifying. Money creation doesn't happen like that.
Subject long debated and decided on the blog of Paul Jorion.
Retail banks do not create money.
In any case, what matters is more the speed of circulation of money, as much as its mass.
What matters is the circuits, that is, which affects the interest on the debt, and what they do with it.
For example, if I put my money on life insurance in government bonds, it is ME who receives these famous debt interests. So where is the problem ?
The problem is not debt. It would be nice if the state, but it only serves certain political movements that ride the wave of discontent ...
You have to know the history of what preceded the debt to take a stand.
I am not defending the debt either, but the problem is not there.
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