Governor of the Central Bank of New Zealand said: “It’s a great business to be in, central banking, where you print money and people believe it.”

And he is right, this business is the greatest scam in the modern world named "fiat money" 👇

How do banks earn their wealth? Do they use their own capital? Do they lend the savings of their depositors? No, neither of these was their major source of income. Instead, they waved the magic wand called "fiat money". "Money" that is created the moment it is borrowed and disappears when the debt is paid off 🪄

🤝 When banks give you credit, they aren't really lending you money. They are pretending to lend you money because they have nothing to lend. Even the money that non-indebted depositors have placed with them was created out of nothing in response to someone else's loan.

People everywhere are forced by law to accept these nothing certificates in exchange for real goods and services. It would be foolish to use them as a long-term store of value ❗️

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