Excellent idea!
If you want to take out a loan, parliament has to vote to give it to you.....or not.
is now planning to take the power of printing money away from bankers.
Bankers don't print money. They take deposits and loan out a portion of them.
They loan out many times the amount of deposited money.
Thus creating money out of nothing.
Nice work if you can get it.
But you knew that already.
Not exactly. They take deposits and loan out a multiple of them.
In the US the reserve requirements range from 3% to 10%. So the money lent is 10x to 30x that deposited.
Or something like that. I really don't understand this stuff.
They take deposits and loan out a portion of them. ???
You should study how our monetary system really works, NO DEPOSITS are EVER Loaned, All Loans are funded with Freshly Created Credit, thereby diminishing the value of all existing specie on a constant basis, some call it “inflation”, Honest people call it Theft.
If you don't know that's not true you're a dumbass. The reserve requirement is a maximum of 10%. Some countries have no reserve requirements. Since when is 9x a portion? What is your purpose in disseminating misinformation?