How Banking Really Works 4943
Most people are probably aware that governments can print? money. This is spelled out in almost every countrys constitution (or similar document of a different name). It is also spelled out that ONLY government can create money. However, in direct contravention of that basic law of all lands, banks create money all the time. In this document, GCM is short for government created money and BCM for bank created money.
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A great little lesson in economics.
http://www.vivelecanada.ca/article.php/20050727200618752

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