Bank of England: "Money Creation in the Modern Economy"

[Kiltacular]

http://www.bankofengland.co.uk/publications/Documents/quarterlybulletin/2014/qb14q1prereleasemoneycreation.pdf

 

I thought this was worth a read -- whether or not you own banks.  Long enough to be useful; short enough to read on one cup.

 

HT to Cullen Roche / Pragmatic Capitalism for highlighting  (pragcap.com).  Another HT to the person -- apologies for not recalling whom -- that highlighted his blog awhile ago.

 

note: title edited for accuracy