Banking

Ah yes, Australia's answer to John Wells and John Fortune. Where did you come across the video Splinter ?

Now it all makes sense.

Now that you've had a giggle about it, here's the real truth of banking and financing as we know it. The meat of it kicks in about 5:30 mins or so.

And if you're put off watching that video because it was on Russia Today, you can watch the same guy talk through the same matters here: Professor Werner explains the reality of banking in very clear terms>

Quote from Splinter

YouTube suggested it based on my viewing habits I suppose.

Any idea how I stop them suggesting I watch videos with scantilly clad females in them?

Quote from Splinter

Werner is very easy to listen to even for an economy dullard like me.

But it's bank bailouts that really get my goat.

I, also, am an economics dullard. Yet your videos, Bombonera , have taught me to keep my eye on the credit creation theory, and I am certainly looking at deposits in a different light. Perhaps Milei should reconsider before neutralizing the powers of the Central Bank, especially the (non inflationary) creation of goods and services to promote growth?

Yes Splinter I was in the "let RBS go to the wall" camp of thinking back in the day, though I had a vested interest in my own bitterness against them!

Meanwhile, Werner reminds us that, despite the common belief that banks lend out deposits, they really do not.

It's all interesting (to me) but bloody disgraceful.