from Gold Silver Worlds:
A couple of days ago the Telegraph published a remarkable piece: The revolution that would wipe out Britain’s debts. In it, the author explains the current monetary system in how money is created and the limits of money creation.
The only limits on this process of money creation are the banker’s instinctive fear of making a bad loan that will lead to a loss, and the fraction of deposits held as liquidity against the possibility that depositors suddenly want their money back – hence the term “fractional reserve banking”.
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