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Analysis of Money as Debt Video by Paul Griggon - Essay Example

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"Analysis of Money as Debt Video by Paul Griggon" paper focuses describes how basic banking works and gives answers to the question of where the money comes from. The video states that in early times, banks use to make money with the use of gold or someone deposit gold in the bank…
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Analysis of Money as Debt Video by Paul Griggon
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Basically, if the bank has $1K cash with them they can lend up to $9K to borrowers based on the 1:9 fractional reserve system regulations. This does not mean that banks cannot limit the earning of money up to $9K. In reality, they can make money up to $90K which makes it a 1 to 90 ratio.

For instance, if the bank initially had $1K cash in possession, it means the bank can lend up to $9K to the public. So, we can assume that if person X takes the loan of $9K to buy a car from Person Y. Based on person X’s promise to pay the money back, the bank will create $9K cash and loan it to person Wythe tactical part is the Person Y will then deposits $9K in the bank. Based on the 9:1 federal reserved regulation, the bank can then reserve $900 ($9K/10) and loan out the rest which is $8100 ($90:$8100 =1: 9).

Moreover, it moves on to the next loan. Transaction until the bank cant reserve money anymore. So the video explains how banks work.

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