Quantcast
Channel: François de Siebenthal
Viewing all articles
Browse latest Browse all 2306

How much money have U.K. banks created ?

$
0
0

How much money have U.K. banks created ?

From the time when the Bank of England was formed in 1694, it took over 300 years for banks to create the first trillion pounds. It took only 8 years for banks to create the second trillion. Today cash accounts for just 3% of the total money in the economy (coloured green on the chart below). Money created by banks accounts for the other 97% (red on the chart below).

http://positivemoney.org/how-money-works/how-much-money-have-banks-created/

Viewing all articles
Browse latest Browse all 2306

Trending Articles



<script src="https://jsc.adskeeper.com/r/s/rssing.com.1596347.js" async> </script>