Banks, Money Creation, and Morality by G. Edward Griffin

„When banks place credits into your account, they are merely pretending to lend you money. In reality, they have nothing to lend. Even the money that non-indebted depositors have placed with them was originally created out of nothing in response to someone else's loan. So what entitles the banks to collect rent on nothing? It is immaterial that men everywhere are forced by law to accept these nothing certificates in exchange for real goods and services. We are talking here not about what is legal, but what is moral.“

G. Edward GriffinG. Edward Griffin questions the moral justification of banks charging interest on money created out of nothing.
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G. Edward Griffin is an American author, speaker, and filmmaker known for his critical works on conspiracy theories and political manipulation.

Griffin criticizes the legitimacy of banking and raises moral questions about money creation and interest charging.


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Quote about banks and money creation by G Edward Griffin

G. Edward Griffin is an American author, documentary filmmaker, and political activist. He is known for his works on controversial political subjects, including criticism of government institutions and exposing conspiracies. His well-known works analyze power structures and the manipulation of the public.

Quote about banks and fiat money by G. Edward GriffinCopyright © yoice.net – Quote Artwork
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"And what did the banks do to earn this perpetually flowing river of wealth? Did they lend out their own capital obtained through investment of stockholders? Did they lend out the hard-earned savings of their depositors? No, neither of these were their major source of income. They simply waved the magic wand called fiat money." G. Edward Griffin
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Quote by Robert H. Hemphill about the bank money system and its economic impactCopyright © yoice.net – Quote Artwork
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"If all the bank loans were paid, no one could have a bank deposit, and there would not be a dollar of coin or currency in circulation. This is a staggering thought. We are completely dependent, on the Commercial Banks. Someone has to borrow every dollar, we have in circulation, cash or credit. If the Banks create ample synthetic money, we are prosperous; if not, we starve. We are, absolutely, without a permanent money system. When one gets a complete grasp of the picture, the tragic absurdity, of our hopeless position, is almost incredible, but there it is. It is the most, important subject, intelligent persons can investigate and reflect upon. It is so important that our present civilization may collapse, unless it becomes widely understood, and the defects remedied very soon." Robert H. Hemphill
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Quote about money creation and debt by G. Edward GriffinCopyright © yoice.net – Quote Artwork
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"In truth, money is not created until the instant it is borrowed. It is the act of borrowing which causes it to spring into existence. And, incidentally, it is the act of paying off the debt that causes it to vanish." G. Edward Griffin
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