The Vinny Eastwood Show – BANCORRUPTCY
11 Jun 2013
This interview followed the creation of the 5min video Bancorruptcy. It discussed the documentation available that describes the creation of money and when it takes place… that is, when a ‘borrower’ gives their promise to pay.
Some of the pertinent statements in banking publications include:
“Banks create money when they lend it” (Money Banking & Monetary Policy… Federal Reserve Bank of Dallas, May 2007)
“… banks extend credit by creating money.” (Quarterly Bulletin, Q1 Vol 48. No. 1. Bank of England, 2008)