You know most money is created by commercial (private sector)

Question

WAGMI: Chainlink Community

Joe

You know most money is created by commercial (private sector)

banks when they make loans, right?

#blockchain #cryptocurrency #english #link

0

11.04.2022

7 ответов

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Joe Автор вопроса

The Count of Monty Crypto
What gives private banking the means to create loa...

Not the Fed, look at any modern country, e.g. Switzerland

0

11.04.2022

Scoville G

The Count of Monty Crypto
What gives private banking the means to create loa...

Capital. Usually 10x. Ie my friend works at a bank. If I deposit 100,000 they can LOAN out 1 million dollars. Do they have a million? No they don’t. They’re figuring th y can make it back with the interest on the million loan and giving you Pennie’s for your interest rate to hold it there. Lemme find this succinct video buddy

0

11.04.2022

The Count of Monty Crypto

Scoville G
Capital. Usually 10x. Ie my friend works at a bank...

Yes exactly what happened with Lehman brothers

0

11.04.2022

Joe Автор вопроса

Scoville G
Capital. Usually 10x. Ie my friend works at a bank...

Bingo, thank you for the corroboration.

0

11.04.2022