Weltzeitgeist on Nostr: Nothing new for me in the video, but like most of economic thinking the video repeats ...

Nothing new for me in the video, but like most of economic thinking the video repeats the mistake of the function of banks. Banks aren't 'intermediaries' from the 'savers' to the 'borrowers', although China is the most extreme example because the private sector is 'saving' so much. The funny thing is, that from the perspective of one bank it still matters, but for the whole economy it's important how much NEW credit out of nothing is created.