This is a short and sweet post.

The main purpose of this post is to provide a link to an interesting, and easy to follow explanation of how Money is created (out of thin air) in our current economic system.

http://moneymyths.org.uk/

Above is  a link to a series of videos (all are transcribed for those – like me – who still prefer to read, than sit and be a passive conduit) – that explain in simple terms how money is created, and how essentially banks (private organisations, who’s sole purpose is for profiteering) generate money using the fractional reserve banking system.

Reginald McKenna, Chairman of the Board of the Midland Bank, and former Chancellor of the Exchequer, said: “I am afraid that the ordinary citizen will not like to be told that banks can and do create money…And they who control the credit of the nation direct the policy of Governments and hold in the hollow of their hands the destiny of the people”.

gh