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Categories: Banks, Economics, Entrepreneurship, Finance, Video
The video tells us that in USA there is 50 trillion dollars of credit and only 3 trillion dollars of money.
In other words most of the spending comes from credit or borrowing.
My two cents are that if banks were consistent and steady and not volatile and unpredictable in offering credits, there will be no cycles, but, consistent growth in economy.
I will look forward to additional comments, especially how can in an interest free economy, we can create such powerful force of 50 trillion dollars. Please, remember that money makes the mare go and most of us work for a salary. For a salary we do things the whole day, which we may not do for our best friends on a daily basis, if free.
The 50 trillion dollars is such a powerful force that all goodness that exists and even whatever ugliness that exists, in the USA society, is because of it.