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Money

In: Business and Management

Submitted By bg11110251
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MONEY & BANKS ….
THE HIDDEN TRUTH BEHIND GLOBAL DEBT .
1) What is money... how is it created and who creates it?
2) Why is almost everyone up to their eyeballs in debt... individuals, businesses and whole nations?
3) Why can’t we provide for our daily needs - homes, furnishings cars etc. without borrowing?
4) How much could prices fall and wages increase if businesses did not have to pay huge sums in interest payments which have to be added to the cost of goods and services they supply...?
5) How much could taxes be reduced and spending on public services such as health and education be increased if governments created money themselves instead of borrowing it at interest from private banks…?
"If you want to be the slaves of banks and pay the cost of your own slavery, then let the banks create money…" Josiah Stamp, Governor of the Bank of England 1920.
WHAT IS MONEY....?
It is simply the medium we use to exchange goods and services. * Without it, buying and selling would be impossible except by direct exchange. * Notes and coins are virtually worthless in their own right. They take on value as money because we all accept them when we buy and sell. * To keep trade and economic activity going, there has to be enough of this medium of exchange called money in existence to allow it all to take place. * When there is plenty, the economy booms. When there is a shortage, there is a slump. * In the Great Depression, people wanted to work, they wanted goods and services, all the raw materials for industry were available etc. yet national economies collapsed because there was far too little money in existence. * The only difference between boom and bust, growth and recession is money supply. * Someone has to be responsible for making sure that there is enough money in existence to cover all the buying and selling that people want...

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