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

Aside from calls for a #DebtJubilee that would, it seems, only really benefit debtors, and encourage more reckless borrowing for #consumption that hurts savers, Prof. #SteveKeen's interview on #RenegadeInc this week has some things to say about climate catastophies.

Both enlightening and troubling:
https://www.rt.com/shows/renegade-inc/516018-professor-steve-keen-covid-pandemic/

#climateChange #globalWarming #theGreatReset #fiatCurrency #modernDebtJubilee #warOnSavers #ProfSteveKeen