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A comment on Big Cities No Longer Deliver for Low-Skill Workers. Parent comment

Re:Big Cities No Longer Deliver for Low-Skill Workers by throwawaymsft on Tuesday January 22, 2019 @07:06PM (#18974270)
Banks will money into existence every time they issue a loan.

https://en.wikipedia.org/wiki/Money_creation

When I deposit $1k in the bank and you take a $500 loan, $500 is created out of nowhere. You are using my deposit yet I still have a balance of $1000 on the books.

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Re:Big Cities No Longer Deliver for Low-Skill Workers by wasdfff on Thursday January 24, 2019 @11:52AM (#18990364)
Banks cant will money into existance. If you withdrew your money the bank has to pay you from other funds. During the great depression banks collapsed this way, the only thing stopping that today is banks have enough funding to buffer people withdrawing from their accounts.
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