In April 2017 the German central bank, the Bundesbank, published a paper on ‘The role of banks, non-banks and the central on the money creation process’ (https://www.bundesbank.de/resource/blob/654284/df66c4444d065a7f519e2ab0c476df58/mL/2017-04-money-creation-process-data.pdf). Accepting the current prevailing definition of money as including bank loans, it was mainly about bank lending and what determined its level. Some have read into it more … Continue reading The problem is not the banks … it’s capitalism