Finance

The Importance of Credit Creation: How Banks Create Money

Money is one of those objects caught up in an existential duality. We create money, we give value to money, and money only has value because humans believe it to have value. If tomorrow everyone forgot what money was, then money would no longer have any value. On the other hand, money seems to have a real existence apart from our thoughts and beliefs. After all, the stock market keeps ticking…
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