gnidrologs (![[info]](http://klab.lv/img/userinfo.gif){kind=small} gnidrologs) rakstīja,@ 2023-06-16 19:45:00 |
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https://www.sciencedirect.com/science/a
https://www.sciencedirect.com/science/a
The second contribution of this paper has been to report on the first empirical study testing the three main hypotheses. They have been successfully tested in a real world setting of borrowing from a bank and examining the actual internal bank accounting in an uncontrolled real world environment.
It was examined whether in the process of making money available to the borrower the bank transfers these funds from other accounts (within or outside the bank). In the process of making loaned money available in the borrower's bank account, it was found that the bank did not transfer the money away from other internal or external accounts, resulting in a rejection of both the fractional reserve theory and the financial intermediation theory. Instead, it was found that the bank newly ‘invented’ the funds by crediting the borrower's account with a deposit, although no such deposit had taken place. This is in line with the claims of the credit creation theory.
Thus it can now be said with confidence for the first time – possibly in the 5000 years' history of banking - that it has been empirically demonstrated that each individual bank creates credit and money out of nothing, when it extends what is called a ‘bank loan’. The bank does not loan any existing money, but instead creates new money. The money supply is created as ‘fairy dust’ produced by the banks out of thin air.32 The implications are far-reaching.Nopūsties:
