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Every time a bank makes a loan and increments the number in your bank account, they are printing money. This is an empty argument.
by neves 4y ago
Every time a bank makes a loan and increments the number in your bank account, they are printing money.
This is an empty argument.
- Cwizard 4y agoIt’s true that they are creating new money but only temporarily. Forgiving a loan is truly creating money (permanently). Not saying it’s bad to forgive the loans but there is clearly a difference. My stance on it (although I am not a US citizen) is that without adding some law that restricts prices for college tuition this actions will do nothing good and only helps to perpetuate a system that moves the money from a younger generation to the pockets of a select few.
- rufus_foreman 4y agoThe Fed is currently trying to get banks to print less money. If the government was enacting a new policy that led the banks to make hundreds of billions of dollars in additional loans, that would also be a terrible idea as long as inflation is as high as it is.