What percentage of people do you think realise how modern banking works? In my experience when I talk to people, universally the answer is "they take money from Alice and lend it to Bob, the difference in rates is how they make money".
I wonder if a survey about this has ever been done, but I suspect only a very small percentage of people really realise that banks, private banks, simply create the money they loan you themselves, as they wish.
Reminds me of that quote: "if the average man realised how our banks work, there would be revolution in the streets tomorrow".
I wonder if a survey about this has ever been done, but I suspect only a very small percentage of people really realise that banks, private banks, simply create the money they loan you themselves, as they wish.
Reminds me of that quote: "if the average man realised how our banks work, there would be revolution in the streets tomorrow".