private banks create credit on the basis of a
cushion of capital specified by the Bank of International Settlements in Basel,
and this credit created out of thin air is exchanged for interest-bearing
Treasury debt
Asia Times Online :: Asian news and current affairs - 0 views
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The only constraint on credit creation is now the capital cushion that banks must hold to cover defaults by borrowers and operating costs
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Tax has never in 800 years in the UK been collected and then spent
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CoiNative - 1 views
The End of Money and the Future of Civilization | Reality Sandwich - 3 views
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separation of money and the state
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Legal tender laws and banking regulations endow the banking cartel with the exclusive power to issue money (as debt), which we are forced to use (through legal tender laws)
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money evolved as a reaction to the inconveniences of barter.
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