HomePage | RecentChanges | Preferences

Interviewed : http://www.ratical.org/many_worlds/cc/Lietaer.html

Great quote on the creation of money :

Money is created when banks lend it into existence ... When a bank provides you with a $100,000 mortgage, it creates only the principal, which you spend and which then circulates in the economy. The bank expects you to pay back $200,000 over the next 20 years, but it doesn't create the second $100,000 -- the interest. Instead, the bank sends you out into the tough world to battle against everybody else to bring back the second $100,000.

See also on ThoughtStorms?:BernardLietaer

HomePage | RecentChanges | Preferences
This page is read-only | View other revisions
Last edited November 23, 2003 8:48 pm by PhilJones (diff)