The Socialist Myth of the Greedy Banker

By Alhadeff, Iakovos

Book Id: WPLBN0003437385
Format Type: PDF eBook:
File Size: 0.1 MB
Reproduction Date: 23/2/2014

Title:	The Socialist Myth of the Greedy Banker
Author:	Alhadeff, Iakovos
Volume:
Language:	English
Subject:	Non Fiction, Political Science, Banking
Collections:	Authors Community, Politics
Historic Publication Date:	2014
Publisher:	Iakovos Alhadeff

Member Page:	iakovos alhadeff
Citation APA MLA Chicago Alhadeff, B. I. (2014). The Socialist Myth of the Greedy Banker. Retrieved from http://gutenberg.cc/

Description
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.