How Money Is Created: Part 2 - Making Money Out of Thin Air

In Part 1 of this series, How Money Is Created, we learned how the Federal Reserve Bank creates money in the form of Federal Reserve I.O.U.s called “Federal Reserve Notes.” In this part we will learn about the origin of another form of money called “Bank Credit.” The story begins in the Netherlands in the 17^th century.

The Netherlands had become a commercial crossroads where the East and West met and created a new economic class -- the first middlemen. They discovered how to make huge profits by purchasing unfinished imported products, finishing them, and then selling them to exporters. They became accomplished craftsmen and benefited handsomely.

Read the complete blog at -- http://thecountrycogitator.blogspot.com/2013/11/how-money-is-created-part-2-creating.html

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