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A comment on Money Creation in the Modern Economy. Parent comment

Re:Money Creation in the Modern Economy by lottin on Sunday January 15, 2023 @06:31AM (#34388641)
What you describe isn't how the "current system" works.
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Re:Money Creation in the Modern Economy by Consultant32452 on Sunday January 15, 2023 @09:46AM (#34389763)
The largest banks in the US collectively decide things like what the federal reserve interest rates will be. They literally decide how much money they can create.
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Re:Money Creation in the Modern Economy by lottin on Sunday January 15, 2023 @11:43AM (#34390721)
No, they don't. That's not how it works. Read the PDF.
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Re:Money Creation in the Modern Economy by Consultant32452 on Sunday January 15, 2023 @02:29PM (#34392364)
I did and didn't learn anything new. The big banks make up the federal reserve. The federal reserve sets the interest rates. The interest rates determine the amount of money created. The banks decide how much money they can create.
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Re:Money Creation in the Modern Economy by lottin on Sunday January 15, 2023 @03:19PM (#34392888)
If you did, it went over your head, because you don't even know what a central bank is. Maybe try reading something more basic first.
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