Volume CCLXII — The Money Illusion - How the financial system was designed to ensure you spend your life working for it

Volume CCLXII — The Money IllusionHow the financial system was designed to ensure you spend your life working for itModern money is created as debt. When a bank issues a loan, it does not lend money it has. It creates the money at the moment of lending. The money you borrowed did not exist before you signed the contract. This is not an alternative theory. It is the documented mechanism, published by the central bank itself.ReferencedBank of England Quarterly Bulletin, 2014 Q1: “Money Creation in the Modern Economy” by McLeay, Radia & Thomas. Stated that the majority of money in the modern economy is created by commercial banks making loans. 97% of money exists as bank deposits created through lending. The textbook model of banks lending out deposits was described as a misconception.Bank of England paper: https://www.bankofengland.co.uk/quarterly-bulletin/2014/q1/money-creation-in-the-modern-economyFree Book — Where the Work BeginsBefore Approaching the Threshold is the book that shows you where the real work starts. It’s free.Download it here: https://www.codexofthearchitect.com/thresholdWebsite: https://www.codexofthearchitect.com