Delta-V (Delta-v, #1)

by Daniel Suarez

“The reality is that only 5 percent of all money is created by governments in the form of cash in circulation.” The holographic dollar shrank to a minuscule size against a backdrop of scrolling database records. “The remaining 95 percent of money is created by commercial banks whenever they extend credit to a borrower.”

“For example, when a new mortgage is originated, that money does not come out of a bank vault. Instead, the money is created as a result of the loan. The bank supplies it to the borrower as a bank credit, with the borrower promising to repay the principal plus interest at a future date. This new debt is registered with a federal reserve or a central bank to the commercial bank’s account, allowing it to now loan out more money based on a multiple of that new loan—usually at a ratio of ten or more to one. So the more money the bank lends, the more it has available to lend.”

“Try me.” Tighe searched for words. “When I dive an unexplored cave, it’s not a thrill. It’s almost the opposite. I feel in focus. It’s a heightened reality—like how you might feel if a tiger walked into this room right now; you’d be 100 percent in the present. The past and the future would cease to exist.” Joyce considered Tighe’s words. “The Buddhist monks in Kopan call that mindfulness—a meditative practice that’s difficult even for the enlightened to achieve.”

‘impedimenta