lil_shi@programming.dev to Asklemmy@lemmy.ml · 5 months agoWhat industry secret are you aware of that most people aren't?programming.devexternal-linkmessage-square619fedilinkarrow-up1432arrow-down19
arrow-up1423arrow-down1external-linkWhat industry secret are you aware of that most people aren't?programming.devlil_shi@programming.dev to Asklemmy@lemmy.ml · 5 months agomessage-square619fedilink
minus-squaregeissi@feddit.delinkfedilinkEnglisharrow-up9·5 months ago Fractional-reserve banking That has already become outdated, at least according to some economists. Banks can just create loans out of thin air without having to check their own reserves first. https://en.wikipedia.org/wiki/Money_creation#Credit_theory_of_money
That has already become outdated, at least according to some economists.
Banks can just create loans out of thin air without having to check their own reserves first.
https://en.wikipedia.org/wiki/Money_creation#Credit_theory_of_money