#economics #money
what money is, namely the physical or electronic record of who owes whom how much; 'money' is a liability as much as it is an asset
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Mark Wadsworth: Banking made easy per cent interest and paying the depositor three per cent interest, pocketing two per cent for itself.11. Some refer to the process outlined in para 7 to 9 above as 'printing money', which it is - but the problem is that people don't realise <span>what money is, namely the physical or electronic record of who owes whom how much; 'money' is a liability as much as it is an asset; you can only have cash in the bank if somebody somewhere owes the bank money.12. As a final thought: the Basel capital requirement rules (see para 4 and 5 above) are of very limited us Summary
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