Contrary to popular belief, private bank create 97-98% of money in circulation out of thin air when they issue loans. See 97% Owned
Instead of being dictated to by corrupt politicians who actually work for corporations, there needs to be a fairer system that works for the community and is operated by the community and public banks need to be set up.Below Professor Werner, the author of Princes of the Yen, describes his findings on finance.
In this interview Prof Werner goes into the history of banking in England and the law which governs it, which is very revealing and not what the banks of today are following, and they only support the big projects it seems. Community banking is the answer going forward to support community projects. Regulation is needed he says for the big banks and too much regulation has been given to the smaller banks, in fact the ECB has been saying there are too many banks, probably because…
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The Most Revolutionary Act 
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“How is the banking contribution to GDP determined? The quantity is imputed and ‘plonked’ onto GDP”.. Professor Richard Werner has an enormous distinct insight into the little known private banking sausage-making process..
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“Sausage making?” I love it, Jerry. How very apt.
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