> Globally, total debit balances are always equal to total credit balances Except for when the banks admit they've been extending credit against garbage to gen

> Globally, total debit balances are always equal to total credit balances Except for when the banks admit they've been extending credit against garbage to generate bonuses and then need the state to create money to bail them out, propping up assets underpinning these "balance" sheets and forcing young workers to pay more for land than the market can bear by underwriting even more risky behaviour with low rates.