6 Responses

  1. Thanks for this excellent primer on how our banking system currently works. This will help me a lot in my efforts to educate people and bring them to the realization that public banking is the solution to all our economic woes.

  2. Very good. I put this on Facebook, for all to see, and pass around.

  3. Great video except we now know that loans can be made before deposits occur. We also know that deposits are not lent out but used only as reserves for lending under the fractional system.

  4. I’m having a discussion with a number of Modern Money Theory adherents on this subject.

    Modern Money Theory Versus Where Does Money Come From?

    and

    Modern Money Theorists Need Instructional Videos!.

    I hope I finally get to the bottom of it.

    • What I’ve noticed about some of them is that they don’t regard interest as an intrinsic evil or economic fraud. They speak about interest as if it were just another variable to be adjusted to get a desire result. As long as the bank is in government control they believe that interest debt is irrelevant as there can never be a shortage of money/credit for any program or expenditure.

      Keep up the dialogue, it is definitely one that needs to be had.

      • I received a reply from L. Randall Wray: “My Also Unsatisfying Second Reply From L. Randall Wray

        I too opposed usury (interest). It retards the giving-and-sharing spirit humans should have.

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