Hi iang
You know, one of the founders of the bank of England, William Paterson, said that the bank created money out of nothing back in the 1690s, this is quoted in one of Ezra Pound's Cantos; viz Canto XLVI,
_Hath benefit of interest on all
the moneys which it, the bank, creates out of nothing._
Interestingly, a couple of lines further on Pound tells us that this is "Denied by five thousand professors," which will be a lot more than 5000 by now.
I suppose Prof Werner is kicking against the pricks.
Posted by gyges at January 24, 2018 05:58 AM