GhostOnTheHalfShell OP , 1 month ago @gooba42 @economics-that-works Paying back the loan destroys the money created, but the bank pockets that interest charge. Ultimately, that credit money comes straight from the Fed and government deficit. The federal government's deficit is where banks get their money from. Out. Of. Thin. Air.
@gooba42 @economics-that-works
Paying back the loan destroys the money created, but the bank pockets that interest charge.
Ultimately, that credit money comes straight from the Fed and government deficit.
The federal government's deficit is where banks get their money from. Out. Of. Thin. Air.