The Bank of England knows that all money is created by lending. It has published papers that confirm that fact. They must as a result also know that government spending has to take place before any tax can be paid. But they never say that. They take part in a conspiracy of silence on that issue to deny the public the truth. Why is that?
LINK FOR DETAILS: https://www.bankofengland.co.uk/working-paper/2015/banks-are-not-intermediaries-of-loanable-funds-and-why-this-matters
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ABOUT RICHARD MURPHY
Richard Murphy is Professor of Accounting Practice at Sheffield University Management School. He is director of Tax Research LLP and the author of the Funding the Future blog. His best known book is ‘The Joy of Tax’.
This video was edited by Thomas Murphy.
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INTRODUCTION: https://www.youtube.com/watch?v=HdHsRPy3060
PLAYLISTS:
Accountancy: https://www.youtube.com/playlist?list=PLvRueM6wBgobKWefKm-4flYmxl6mQXvaV
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