Our country is crippled by a debt to private banks... http://t.co/FUd6WM6KEL > pic.twitter.com/xUWYUXiuBH
— Positive Money (@PositiveMoneyUK) August 17, 2014
Sunday, 17 August 2014
Positive Money is all at sea.
Yes but an equal amount is owed by banks to depositors and bondholders. So on balance banks are not creditors. On balance the population does not owe them anything. In contrast, the REAL DEBT is owed by those who borrow from banks to those who deposit money in banks or who lend to banks.
All quite simple.