This is a VERY important topic, the fraud of bank "loans" and electronic "money" that is conjured out of nothing by bankers yet "paid back" via years of hard work. Werner and others says that bankers actually purchase promissory notes and owe the $$ to the "borrower". They also cause inflation when they make their fake/fraudulent "loans" for the purpose of financial transactions with no new value being created.
Here is more evidence and educational material:
Bank of England:
Money creation in the modern economy
By Michael McLeay, Amar Radia and Ryland Thomas of the Bank’s Monetary Analysis Directorate
"This article explains how the majority of money in the modern economy is created by commercial banks making loans. Money creation in practice differs from some popular misconceptions..."
This is a VERY important topic, the fraud of bank "loans" and electronic "money" that is conjured out of nothing by bankers yet "paid back" via years of hard work. Werner and others says that bankers actually purchase promissory notes and owe the $$ to the "borrower". They also cause inflation when they make their fake/fraudulent "loans" for the purpose of financial transactions with no new value being created.
Here is more evidence and educational material:
Bank of England:
Money creation in the modern economy
By Michael McLeay, Amar Radia and Ryland Thomas of the Bank’s Monetary Analysis Directorate
"This article explains how the majority of money in the modern economy is created by commercial banks making loans. Money creation in practice differs from some popular misconceptions..."
https://www.bankofengland.co.uk/quarterly-bulletin/2014/q1/money-creation-in-the-modern-economy
Library of Parliament research publication:
How the Bank of Canada Creates Money Through its Asset Purchases
by Brett Stuckey, Penny Becklumb, Mathieu Frigon
Economics, Resources and International Affairs Division
"Money is created in the Canadian economy in two main ways: through private commercial bank loans..."
https://lop.parl.ca/sites/PublicWebsite/default/en_CA/ResearchPublications/201551E
Richard A. Werner explaining the fraud of bank "loans":
https://www.youtube.com/watch?v=EC0G7pY4wRE&t=1s
Short illustrated video for lay people.
How Do Banks Create Money? A Walk-Through of Richard Werner's Papers
https://www.youtube.com/watch?v=3N7oD5zrBnc
How Commercial Banks Really Create Money (the Money Multiplier is a MYTH)
https://www.youtube.com/watch?v=cDNSNX48Kmo