RE: https://mastodon.social/@FluentInFinance/115970297280530554

It gets even wilder when people learn that approx. 90% of money creation is not the fiat dollars that the gov't creates, but rather the ones created by bank lending!
That's right; as Prof. Steve Keen says, "Bank lending creates money."
You don't learn that in your college econ 101class (if it's teaching Neoclassical economics, as most are).
So one of the dumbest things done in my lifetime was bank deregulation.
#economics #moneycreation #bankloanscreatemoney #ProfSteveKeen #BankDeregulation

Deregulating the Banks with John Nichols

Guest: #JohnNichols, national affairs correspondent with The Nation. His latest piece is called "Bankers Lobbied for #Deregulation, Congress Capitulated, and Now #Banks Are Collapsing" ( https://www.thenation.com/article/economy/silicon-valley-bank-congress-deregulation/ )

https://youtu.be/NukXoBrUF8s

#SVB #KrachFinancier #BankingLobby #BankDeregulation

#LettersAndPolitics

Jeremy Hunt’s rollback of post-crash banking protections ‘could rebound badly’ warns their author | The Independent
#Hunt
#BankDeregulation
#Brexit

Chancellor accused of ‘race to bottom’ to mitigate Brexit damage to sector

https://www.independent.co.uk/news/uk/politics/hunt-city-regulation-edinburgh-vickers-b2242301.html