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The Socialist Myth of the Greedy Banker

By Alhadeff, Iakovos

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Book Id: WPLBN0003437385
Format Type: PDF (eBook)
File Size: 106.62 KB.
Reproduction Date: 23/2/2014

Title: The Socialist Myth of the Greedy Banker  
Author: Alhadeff, Iakovos
Language: English
Subject: Non Fiction, Political Science, Banking
Collection: Authors Community
Subcollection: Politics
Publication Date:
Publisher: Iakovos Alhadeff
Member Page: iakovos alhadeff

There is a wide spread belief that the banking sector created the current crisis. In this essay I explain in very simple words why private banks are not responsible for the crisis, and more specifically why private banks cannot create what is called "inflationary money". I explain that inflationary money is always and everywhere created by governments. I also explain how and why governments do so. Finally I say a few things about conspiracy theories concerning the central banks, since the latter play a key role on what we call "inflationary money". This essay is written for non economists with an interest on the subject . Even though I have postgraduate studies in economics I am not a specialist, and this document is the knowledge I gathered in an attempt to answer my own questions. Moreover, English is not my first language so you will have to excuse my syntax.


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