• Aceticon@lemmy.world
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    27 days ago

    As other have mentioned, we operate with Fractional Reserve Lending, so most Money is not created by governments but by banks when the lend money.

    Here is an article from the Bank Of England on it in case you think this is bullshit.

    Government control over money creation is, nowadays, mostly indirect via reserve criteria which is a lot softer that the direct control over money printing in the old days.

    Your idea of how money is created is at least 30 years out of date.