[Home]BernardLietaer

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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


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Last edited November 23, 2003 8:48 pm by PhilJones (diff)
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