In a post below about the book “The Creature From Jekyll Island”, the claim is made that banks create money when the lend. That the money for the loan is just poofed out of the air when you sign the loan documents.
A lot of people don’t believe that. I don’t blame them. How could our government give the money creation power over to banks? It’s just not possible that’s the way it really works!
Well, sometimes the banks or their masters ( the central banks) do come right out and say it, like the Bank Of England says right here in this PDF on their site…
This article explains how the majority of money in the modern economy is created by commercialbanks making loans.