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Yes but that 900M is deposited into another bank, who then loans out 90% and eventually the system loans out 9B. And the system is dominated by a few banks.
by va_coder 17y ago
Yes but that 900M is deposited into another bank, who then loans out 90% and eventually the system loans out 9B. And the system is dominated by a few banks.
- fan 17y agoYes but $9b of "credit" is created this way. The US government emphatically does not sell bonds for credit, only cash, which you still only have $1b of...