After 5000 Years; An Answer. Yes Virginia, Banks Do Create Money “Out Of Thin Air.”

After 5000 years; an answer.

Yes Virginia, banks do create money “Out of Thin Air.”

“Verified by Empirical Evidence” by JUSTALUCKYFOOL

****Can banks individually create money out of nothing? – The theories and the empirical evidence ☆***by Richard A. Werner

http://www.sciencedirect.com/science/article/pii/S1057521914001070

” This study establishes for the first time empirically that banks individually create money out of nothing. The money supply is created as ‘fairy dust’ produced by the banks individually, “out of thin air”.

AFTER more than 80 years-Vindication for the “crank” Frederick Soddy.
FREE DOWNLOAD: “The Role Of Money” (Entire book as a free download…)http://archive.org/details/roleofmoney032861mbp ;
As Soddy would say, “So elaborately has the real nature of his ridiculous proceeding been surrounded with confusion
by some of the cleverest and most skilful advocates the world has ever known, that it still is something of a mystery to ordinary people, who hold their heads and confess they are ” unable to understand finance “.
It is not intended that they should.”(The Role Of Money)
PLEASE: “Believe nothing merely because you have been told it…
But whatsoever, after due examination and analysis,you find to be kind, conducive to the good,
the benefit,the welfare of all beings – that doctrine believe and cling to,and take it as your guide.”- Buddha
CHALLENGE SODDYISM..
Read:…Free Download:
** ONE OF THE BEST OF THE BEST-
“The Role Of Money”
.*** why not read and challenge a Noble Laureate ?
******Excerpt from…wikipedia.org/wiki/Frederick_Soddy
“In four books written from 1921 to 1934, Soddy carried on a “quixotic campaign for a radical restructuring of global monetary relationships”[this quote needs a citation], offering a perspective on economics rooted in physics-the laws of thermodynamics, in particular-and was “roundly dismissed as a crank”[this quote needs a citation]. While most of his proposals – “to abandon the gold standard, let international exchange rates float, use federal surpluses and deficits as macroeconomic policy tools that could counter cyclical trends, and establish bureaus of economic statistics (including a consumer price index) in order to facilitate this effort” – are now conventional practice, his critique of fractional-reserve banking still “remains outside the bounds of conventional wisdom”[this quote needs a citation]. Soddy wrote that financial debts grew exponentially at compound interest…”
Free download-
http://archive.org/…/role…/roleofmoney032861mbp_djvu.txt
IMHO,” Quote Frederick Soddy (The Role Of Money) ” It is important to realize that whichever way it
works it is a case for the bank of ” Heads I win,
tails you lose “…”…(U)sually by some such lying phrase as ” Every
loan makes a deposit “.

(Comments by Justaluckyfool )
After 5000 years, finally an answer.

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