a currency crank wrote: data
a currency crank wrote:
data shows that most MPs do not know how money is created. Responding to a survey commissioned by Positive Money just before the June election, 85% were unaware that new money was created every time a commercial bank extended a loan, while 70% thought that only the government had the power to create new money. ..How is money created? ..All money comes from a magic tree, in the sense that money is spirited from thin air.
It is sort of re-assuring that only 15% of MPs think that "money is spirited from thin air". Let's hope that they represent the views of their constituents on this. In which case, currency crank ideas are not all that widespread, though they still need refuting.