Josh Farley: "Money, Money, Money"
The Great Simplification with Nate Hagens
00:00
The Right to Create Money Is Incredibly Powerful
Commercial banks create most of the money in our world when they make a loan. And still a lot of economists buy into this idea th bank serveis intermediary between savers and borrowers. So i put my money in the bank, i get three % interest from the bank. They loan it at six%. They keep 3%. And they're just an intermediary. In reality, they're ignoring the fact that 95% of the money is created by the banks.
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