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Reply #95: "Money in a bank account gets loaned out to others to buy houses, start businesses, etc." [View All]

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Greyhound Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Jan-24-09 04:00 PM
Response to Reply #94
95. "Money in a bank account gets loaned out to others to buy houses, start businesses, etc."
Tragically oversimplified and implies the most common misconceptions of currency generation and distribution.

This is Econ 101 stuff and the fact that you wrote it shows you do not understand it well, or at all.

"It is well enough that people of the nation do not understand our banking and monetary system, for if they did, I believe there would be a revolution before tomorrow morning." - Henry Ford


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