The Global Banking System - El Sistema Bancario Global

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The Global Banking System - El Sistema Bancario Global

  • 1873


The banks do create money.

They have been doing it for a long time, but they didn't realize it,

and they did not admit it.

Very few did.

You will find it in all sorts of documents, financial textbooks, etc.
But in the intervening years, and we must be perfectly frank about these things, there has been a development of thought, until today I doubt very much whether you would get many prominent bankers to attempt to deny that banks create it.
H.W. White
Chairman of the Associated Banks of New Zealand

October 2008
 

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