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  4. Martin Wolf
  5. The essence of the contemporary monetary system is creation ...

The essence of the contemporary monetary system is creation of money, out of nothing, by private banks’ often foolish lending.

Martin Wolf
Essence, Foolish, Creation
"The Fed is right to turn on the tap". www.ft.com. November 9, 2010.
The essence of the contemporary monetary system is creation of money, out of nothing, by private banks’ often foolish lending.