John Kenneth Galbraith: Banks Create Money

Posted by admin on Saturday, July 24, 2010

John Kenneth Galbraith Money Quotation shows he is offended by the ease with which financial institutions manufacture money and wishes for some complexity to it
 

 

“The process by which banks create money is so simple the mind is repelled. With something so important, a deeper mystery seems only decent” — John Kenneth Galbraith

 
Share the John Kenneth Galbraith Money quote image above on your site:
<a href=https://itsamoneything.com/money/quote-banks-create-money-john-kenneth-galbraith/><img class=featured_image_embed src=http://itsamoneything.com/money/wp-content/uploads/John-Kenneth-Gailbraith-Banks-Create-Money-Simple.jpg alt="The process by which banks create money is so simple the mind is repelled. With something so important, a deeper mystery seems only decent Quote" width=630 height=330><noscript><img class=featured_image_embed src=http://itsamoneything.com/money/wp-content/uploads/John-Kenneth-Gailbraith-Banks-Create-Money-Simple.jpg alt="The process by which banks create money is so simple the mind is repelled. With something so important, a deeper mystery seems only decent Quote" width=630 height=330></noscript><br>John Kenneth Galbraith Money Quote</a>
 

When banks extend loans to their customers, they create money by crediting their customers’ accounts. Mervyn King, Governor of the Bank of England

Short Link to this Quote:

 

Categories: finance Tagged:banksjohn kenneth galbraithmystery