Learn About Money – Part 5: Do Banks Create Money Or Just Credit?
Do banks create money or just credit? – (Part 5 of 6)
You might hear some people say that “Banks don’t create money — they just create credit”.
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This response often comes from civil servants and people trying to deny that banks now create the nation’s entire money supply.
So let me show you why the numbers that banks create are money, and not just ‘credit’.