4 ms·
>In a financial world, a bank should never print money. Except banks routinely do "print money" (if you agree that credit and money are effectively the same).
by fuoqi 4y ago
>In a financial world, a bank should never print money.
Except banks routinely do "print money" (if you agree that credit and money are effectively the same). Even without delving into workings of our financial system, there are enough stories of banks making mistakes which erroneously increase their liabilities to clients. Banks simply revert such mistakes if they can or sue clients if money were withdrawn before such mistake was found. So it's much closer to fuzzy/eventual consistency.