Source: Real Media on Twitter I think this paper I published in 2000 pairs well with what @AnnPettifor is explaing here. https://t.co/Q4Pzt3LaKn https://t.co/SDuiZblvlh — Stephanie Kelton (@StephanieKelton) June 1, 2017 Link to … Continue reading The “Money Tree” – where money actually comes from
Since the Federal Reserve only requires private banks to have 10% of the money they loan out actually on hand, isn’t the remaining 90% of money loaned by banks “created out of thin air?” Continue reading Do private banks create money?
paul meli said… I don’t know about Britain, but in the USA the outstanding balance of private credit is about $46T and the total of all government spending since WWII about $68T, so someone is confused. I already debunked this here: http://economicsrantsnmusings.blogspot.com/2013/06/does-credit-drive-economy.html <– Private link, looking for cached version somewhere to support what he’s … Continue reading Do private banks ‘create’ more money than the government?
Is the FED only a quasi-arm of the Government? The Fed is a public-private partnership, but monetary policy is determined from the top. Governance Fed Board of Governors: all 7 members appointed by … Continue reading Is the Federal Reserve a Quasi-Arm of the Government?