Growing money or mining money?

If It Can’t Be Grown, It Has To Be Mined. Everything we have (excluding cosmic debris) comes from the Earth.  As we produce, we create wealth; we do not create money as we produce. That only happens at a bank. Now, money only comes into being when someone, an individual, business or government, takes out…

Wealth to Debt

Wealth to Debt Once, the more money we had, the more wealth we had. Now, the more money we have, the more debt we have. “Note that although the system of fractional-reserve banking creates money, it does not create wealth. When a bank loans out some of its reserves, it gives borrowers the ability to…

What is wealth?

What is Wealth? Wealth = Innovation + Raw Resources + Labor    That’s also why silver worked; as well as sea shells, coffee beans, furs or tobacco. They were all examples of wealth based money – not simply barter, but used for money. So, you see, we don’t have to use gold to have a wealth based money…

The most important quotes in Economics.

4 of the Most Important Quotes in Economics: 1. “…the actual creation of money always involves the extension of credit by private commercial banks.” – Russell L. Munk, Assistant General Counsel, Department of the Treasury 2. “Money is created when loans are issued and debts incurred; money is extinguished when loans are repaid.” – John B. Henderson,…