Receiving my profit gave me more confidence to reinvest. Tom FolksAcum 17 Zile OK, let me preference this by saying that my son asked me to watch this video and give my input for input for a school project he is working on.
Second, My undergraduate degree is in Econ. The video starts off with some fairly accurate information and then falls off a cliff into a complete pile of crap when it starts taking about bank loans. The information is just wrong. Michael DyeAcum 18 Zile I like your content but this is a very hard topic and you've misunderstood some really fundamental stuff here. Your argument doesnt make sense - e.
If banks can 'create money' in a spreadsheet why do bank runs happen? After all, couldnt they just pay everyone with the new money they can create? I would advise you take this video down, its very misinformative. Yes, according to the bank of England, when a loan is created by a bank it is indeed new money. But all of this created money can only be in the form a loan. Double entry bookkeeping.
Deposits were at least a requirement for banks by the federal reserve until recently as mentioned. Ah right, so now I get it. Simon CuthbertAcum 19 Zile Consequences of flawed capitalistic economic system. Islamic economic system is the only answer. It's like mankind has created a huge problem that didn't exist.
With judith williams bitcoin trader based money I mean. I don't understand everything but it feels like there must be a better more sustainable way to organize our money system.
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It feels like greed is involved, a system that is rigged to favour the private banks. That's not a good beginning!
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No money is printed by central banks. The other central banks create credit. They borrow private money and then spend it with the promise of paying it back in a few years plus annual interest. RuirodtubeAcum 20 Zile Degogo seems not to realize that interest paid to the federal reserve is transferred to the US treasury.
So when the government sells bonds to the central bank, the interest doesn't need to be paid by taxes. It's a strange shell game. The government pays the interest, but the Federal Reserve gives the money back. So getting money from the federal reserve is exactly like printing money. It's not like credit card debt where interest will accrue until it's repaid.
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Trevor StandleyAcum 20 Zile Trevor Standley Banks create money out of thin air as loans regardless of reserves or deposits. These "reserves" if required are paid into the Fed intra-bank check-clearing system.
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And if banks lack judith williams bitcoin trader money to pay into this "check-clearing" federal reserve account, they simply borrow some other bank-created digital money from other banks and put this into the system.
So you should be able to see that this reality completely contradicts the "money multiplier effect", which is why economists and bankers are slowly waking up and exposing the truth.
He also lied constantly on other subjects. For example, he said only the government creates money, when everyone knows that is a completely dishonest statement. Here is a youtube video of Milton Friedman lying about money creation.
My conclusion is that it is not a myth. It is just a simplification of the true story.
And on top of the money multiplier effect, there is a larger important interaction with the interest rates that the FED sets. In both cases though, the central bank can effectively control the amount of money banks can "create" by setting monetary policy dials.
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Nowadays, central banks chose not to limit reserve loans to banks as long as those banks accept the interest rate but they could to so at any point, and the interest rates they set effectively allows them to control the money supply enough.
It's a complicated system, but not a runaway train. Trevor StandleyAcum 18 Zile Trevor Standley Your judith williams bitcoin trader is using the debunked "money multiplier effect" that said bank lending is limited. In fact, banks create whatever amount they wish when they make a loan with no thought of reserves or existing deposits.
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BANKS create money, not government. Banks decide when and how much money to create as loans and the Federal Reserve only determines interest rates that don't have much effect on consumer loans anyway. You can learn more about how money is truly created by searching youtube for "money multiplier myth.
The fed knows how banks work. Banks must keep a percent of the deposits on-hand for withdrawals. So the banks can only 'create' a certain multiple of what the fed issues. So the supply of money is still finite. It worked the same way before the fed. Banks take deposits and loan them out.
And I hoped to steer you to the direction of truth about money.