banks lend out about ten times more money than they actually have. So where does that extra money come from, if it doesn’t actually exist? Banks create it out of thin air when they credit your account. They literally loan it into existence. More than 90% of the money that’s presently circulating in our economy is created in this manner. In other words, almost every single dollar that passes through our hands represents somebody’s debt. And this debt has to be paid back with interest – with more work, more extraction and more production. This is extraordinary, when you think about it. It means
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