Banks Create Credit out of Thin Air

This is an interesting post on an interesting blog by an interesting person: Jim Luke, a teacher of economics at a college in Michigan. He gives ‘evidence’ for the fact that banks do create Credit and thus money out of thin air.

Isn’t it an extraordinary case of “the emperor’s clothes”?

Isn’t it extraordinary that they dare to charge interest for that “thin air operation”?

Isn’t it unbelievable that most of the world believes that governments create money and run the economy?

Isn’t it even more unbelievable that governments believe that they have to borrow money and pay interest and charge us citizens taxes to pay for that interest?

Shows you who runs the purse strings, doesn’t it!…

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