Money DOES Grow on Trees

[Ivan Drago]

Who creates money? It's not the government.

Only the government has the right to mint coins or notes. Coins and notes only constitute about 3% of the total money in circulation today. Who creates the other 97%?

Private banks create money out of thin air. Sounds like BS - of course it does?

When a bank lends some £1k - it doesn't take £1k out of its customers funds to lend. It relies on gross fraud that all its customers don't come to withdraw all their funds at the same time or all the banks would all be bankrupt.

The total 'money' in circulation has increased from £14.1 million in 1963 to circa £1.3 BILLION in 2006.

A colassal amount which the media and school/uni didn't tell you?

Yep, welcome to the real world where YOU know nothing.

How can seemingly educated people not know this? LOL.

WAKE UP DRONES

This thread was made because the thread in Speakers Corner was closed - why?

 

[Efour]

Jesus, welcome to A level economics.....

 

[[FnG]magnolia]

Abovetopsecret is that way >>>>>>>>>>>>

 

[verbal]

It seems you're the ignorant one (or trolling). Do some more reading and come back.

 

[Cosimo]

This thread was made because the thread in Speakers Corner was closed - why?

This one will probably go the same way.

 

[Fr0dders]

Yep, welcome to the real world where YOU know nothing.

How can seemingly educated people not know this? LOL.

1) how can i know nothing when this thread hasnt taught me anything i didnt already know

2) most educated people do. you've obviously been talking to people that arent.

 

[Luke]

In trying to look clever you have come across as a total halfwit. Well done...

 

[PapaLazaru]

I thought everyone knew that?

Money does not have to exist in some hard form.

Same as there are not enough parking spaces at all the airports for all the planes that fly around.

 

[stoke1863]

This is straight from an office email that gets passed around.

What would happen if we all withdrew our money from the bank at the same time?

 

[EdGey]

You sounds like a moron.

You called me a 'drone', said I 'know nothing', and automatically assume I am uneducated enough not to know about this.

Just because your intelligence lacks, dont assume mine does too.

 

[Allnamestaken]

Imagine if every sperm I came into my gf's pasty created a baby.

I would have an army.

 

[kae2]

I'd have an extra £3.50 in my pocket?

 

[Rich_L]

OP has just discovered fractional reserve banking, likely on Youtube.

Sadly he's about 200 years late to the party, which is how long it's been around for.

 

[OriginalJonty]

Smash the system! RAWR! = Basics of the post's message.

 

[TheCrow]

This is straight from an office email that gets passed around.

What would happen if we all withdrew our money from the bank at the same time?

They couldn't fund it. Remember everyone trying to clean out Northern Rock?

 

[Fr0dders]

This is straight from an office email that gets passed around.

What would happen if we all withdrew our money from the bank at the same time?

exactly !

 

[arknor]

did you know theres more money in bank accounts than there is physical money? where did you think money came from? lol did you only just realised its paper thats printed ?

 

[SeraphX]

Smash the system! RAWR! = Basics of the post's message.

this +1 lmao post of the day

 

[PapaLazaru]

What would happen if we all withdrew our money from the bank at the same time?

What would happen if everyone in the world flushed their toilets at the same time? A poo-tsunami!

(so I once read)

 

[JayMax]

A colassal amount which the media and school/uni didn't tell you?

It's one of the first things you learn in any Economics course.

Thanks for giving me a good laugh though