How Do Banks Create Money? A Walk-Through of Richard Werner's Papers
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YouTubeWerner Economics
How Do Banks Create Money? A Walk-Through of Richard Werner's Papers
In 2014, Prof. Richard Werner provided the first empirical evidence that banks create credit out of thin air... They do this whenever they issue a loan or, more specifically, purchase a promissory note. This is a walk-through of exactly how they do it. Note: In the example where the small business pays a supplier at another bank, it is possible ...
66.4K viewsAug 2, 2021
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