Money creation and the revolution. Along the Path to Real Change

When you store your belongings in a private locker, does the owner of locker pay you? On contrary, owner, for he is providing with service called safe-keeping. In effect, holds safe until take them back. So, why it that accept money from bank to hold The obvious answer not holding money; lending out and rewarding portion what collects interest. If are happy this arrangement, have likely sought neighborhood provides greatest return on deposit. Unfor tunately, there several things very wrong type transaction. Most important engaging tran saction commercially unsound. You engage legally non-binding agreement when, one hand, promises deposit demand, other loans others specified period time. Contractually, these two acts incompatible, as same cannot be both de-mand loan simultaneously. Either, money, reserve right back at any moment, behalf. This demand Or, surrender specific time, permit lend others, receive interest risk sacrifice. time Commercially, treating can loaned an enforceable contract, law insists must mutual assent when parties enter into agreement. simply odds expect retrieve moment lends fixed period. Legally speaking, transaction do agree contractual terms sense.