Pete Daoust
Each and EVERY time a Bank makes a “LOAN” (or purchases “SECURITIES”) new bank “credit” is created — NEW DEPOSITS — Brand new “money”. Broadly speaking, ALL new “money” comes out of a BANK in the form of LOANS. As loans are “DEBTS”, then under the present system, ALL MONEY IS DEBT.
Printed copy · Anthology Volume 8, page 365
