He states that banks create new money through lending against deposits, which is the basis for explaining debt and inflation dynamics in this episode.
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A Jiang Lens evidence brief for this topic, built from source tags, transcript matches, and linked source refs.
Double Entry
A transcript-matched topic anchored by excerpts such as "an illusion so the example is let's just say your depositor and you put a million dollars into a bank okay and the way..."
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A transcript-matched topic anchored by excerpts such as "an illusion so the example is let's just say your depositor and you put a million dollars into a bank okay and the way..."
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Timestamped Evidence
"an illusion so the example is let's just say your depositor and you put a million dollars into a bank okay and the way..."
"do you guys know what you don't want to know why the bank has two million dollars this is the case okay i'll tell..."
"...have to keep track of these exchanges so the equation called double entry bookkeeping which is basically assets and liabilities okay and that's double..."
"...whatever but what people don't really appreciate is the idea of double entry bookkeeping which goes way back and the idea of double book..."
"...letting money and money out of the system and in the double entry booking system debt is considered assets and so that's something that..."
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