You’ve probably heard the saying ‘printing money out of THIN air’ – and most likely you’ve heard it regarding todays banksters. It’s blamed for many things, most commonly the seeming ability by banksters to print money from nowhere…
This article challenges the concept money is purely brought into existence by keystrokes on a computer, and explores what is backing to today’s ‘money’ and what that backing may be.
First let’s explore the ‘money from THIN air’ concept…
The THIN air concept largely comes from the mystery involved in the money creation process. It’s a ‘dark art’ – ask banksters how they create money and if you are humoured with a response, it likely trots out textbook process according to the ‘establishment’. Yet some of the juiciest textbooks are avoided.
If money was created out of thin air, you’d expect it could be created at ANY time, at the whim of the oligarch with the printing press.
Yet if you’ve watched the 5min video Bancorrupcty, or the 8 min video CONfinance, loaded with inconvenient textbook quotes, you’ll appreciate banksters create money “in the act of lending” – This puts a timestamp on the process.
This is perhaps best surmised in the IMF Working Paper The Chicago Plan Revisited, by Jaromir Benes and Michael Kumhof: