Comments by "Gordon Wilson" (@gordonwilson1631) on "How banks create money" video.

  1. An excellent video in an excellent series. Please get on Newsnight. The Bank of England Q1 2014 Bulletin explains this but was ignored by journalists except for David Graeber in The Guardian and Martin Wolf in The Financial Times. Repaying loans does clear individual debt but the money to repay was also created by the same alchemy process. So it is a continuum, with overall debt increasing with time. As it must with this system due to the process and interest. The danger lies in it being a private for private profit system, hence wealth moves from those who create it (labour) to those who create and service the private money supply.
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