You are reading a single comment by @snottyotter and its replies.
Click here to read the full conversation.
London Fixed Gear and Single-Speed is a community of predominantly fixed gear and single-speed cyclists in and around London, UK.
This site is supported almost exclusively by donations. Please consider donating a small amount regularly.
snottyotter
It depends on what you consider money / creating money to be, I guess - Banks extending credit & lending is increasing money by certain measures, but that's something that individuals can do too - the difference is scale. Both are regulated & restricted by how the market view their ability to lend.
Only a central bank can create money from nothing - and even then they are regulated internally (inflation targets, for example) & externally (trade deficits and the like).
There is a huge, increasing, imbalance. There are slaps on the wrist for criminal actions. There are plenty of problems. I don't think they are caused by having a fiat monetary system. I think they are caused by poorly regulated markets and corporate-centric social and taxation policy.