Are Banks To Blame?

Some of the large banks, which have been prominent promoters of fiat currency, have certainly benefitted from inflation. Their “profits” have been enhanced, since somebody has to broker all the new money created by government, and pass it on to the large corporations. The international bankers are delighted to do so.

The banks also have the privilege of creating checking- account money, known as demand deposits. The banks create this money in the process of making loans—loans for which they charge interest. Much of our money consists of bank-created demand deposits.

Inflation bestows benefits, as well as wreaking havoc. Wealth is transferred from one group to another. Although the transfer has haphazard elements, it goes from the middle class and the poor to the government, the bankers, and the large corporations. This is the immoral process that must be stopped.