Comments by "Dr. Ricco Lindner" (@Dr.RiccoMastermind) on "Who's getting rich from your mortgage?" video.

Please, Gary, you are wrong! Private Banks are NOT just the middleman between the rich and the borrowers! Banks do NOT borrow money from the rich and lend it on as credits. There is no such things loanable funds!! You also completely left out the debt of the government's. Else, you still are right about money being transfered from the poor to the rich, but Banks are part of the problem! Please, please, talk to Prof. Steve Keen or Prof. Richard J. Murphy 🙏🇩🇪
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Hey Gary, I must correct you a bit. You are right that technically all money is represented as equal sums of debt and credit. However, the money created by the bank of England is not like a loan of a private bank. The debt the central bank accumulates by issuing or spending money is no debt that requires redemption, not even interest payments. It's just a logical debt in double entry book-keeping. In terms of mortgages ofc you're right! Please, please have a good talk with Prof. Richard J. Murphy🙏🇩🇪😊
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@garyseconomics sure, but it always, they would not need to (as in 0 or negative interest rate times), only to set basic interest rates for private banks. Not long ago no interest was paid on reserves, when the amount of circulating reserves in Europe was carefully balanced everyday. Therefore bonds as interest-bearing alternativ to reserves are wanted so much
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