Mike Walters

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Mike Walters
Posted over 1 year ago
How is money put into the economy? ie how is wealth created?
Thanks I will look it up. In the mean time I would love to hear more about how the money enters the economy. I read about the Bank of England and there it stated that money was created by loaning out money. The way I understand it is there is x amount of money - a loan is made for y amount, and so now the total money is x+y (+interest too). This is covered by a central entity (banks, government, aliens) ... Is this at all close? Please keep your comments on topic - I am not so much interested in bit coin and that sounds like a good topic for a different thread. Thanks!