This study establishes for the first time empirically that banks individually create money out of nothing. The money supply is created as ‘fairy dust’ produced by the banks individually, "out of thin air".
The strange thing is that there are millions of bankers in thousands of Banks who are systematically doing it, so not sure why you need a study to say what they are doing, when the system is well established !
The strange thing is that there are millions of bankers in thousands of Banks who are systematically doing it, so not sure why you need a study to say what they are doing, when the system is well established !