I cant remember the name of the economics student who told me to - TopicsExpress

I cant remember the name of the economics student who told me to leave economics to the economists and called me a liar for insisting that when banks make a loan they are creating money out of thin air, but here is the proof, from the Bank of England itself, clear as day, first sentence on page 3. Commercial banks create money, in the form of bank deposits, by making new loans. This Im sure is thrilling news to those who work their whole lives to pay off their mortgage, the money you borrowed to buy your house was created by the bank the moment you signed the form. It is a con, a ruse, a trick, to keep you as a wage slave paying off an imaginary debt. Source (warning, dull read): bankofengland.co.uk/publications/Documents/quarterlybulletin/2014/qb14q1prereleasemoneycreation.pdf

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