By Positive Money
More than 97% of all the money that exists is created by banks when they make loans. When people first hear this, they often find it hard to believe. But we don’t want you to take our word for it, read these quotes to hear what central bankers, finance journalists, and commentators have to say on the subject.
In this video Dirk Bezemer, Associate Professor at the University of Groningen and Michael Kumhof, an IMF Economist explain where money comes from in less than 2 minutes: