According to wikipedia, Standard and Poors, and the Bank of England the view I give above is considered outdated and wrong. Oh well. https://en.wikipedia.org/w

According to wikipedia, Standard and Poors, and the Bank of England the view I give above is considered outdated and wrong. Oh well. https://en.wikipedia.org/wiki/Money_creation#Credit_theory_of_money https://en.wikipedia.org/wiki/Money_creation#Credit_theory_o... http://www.kreditordnung.info/docs/S_and_P__Repeat_After_Me_8_14_13.pdf http://www.kreditordnung.info/docs/S_and_P__Repeat_After_Me_... https://www.bankofengland.co.uk/-/media/boe/files/quarterly-bulletin/2014/money-creation-in-the-modern-economy.pdf https://www.bankofengland.co.uk/-/media/boe/files/quarterly-...