Weltzeitgeist on Nostr: When considering the idea from the video that savings deposited in banks are ...

When considering the idea from the video that savings deposited in banks are subsequently lent out again, it’s better to think about exactly what happens. A company at Bank A transfers a worker’s wages to Bank B. What’s important for Bank B is that Bank A has transferred central bank money. Bank B then credits that amount to the worker’s checking account, and Bank A deducts it from the company’s account.