How Banks Create the World's Money?

“Banking was conceived in iniquity and was born in sin. The bankers own the earth. Take it away from them, but leave them the power to create money, and with the flick of the pen they will create enough deposits to buy it back again. However, take it away from them, and all the great fortunes like mine will disappear and they ought to disappear, for this would be a happier and better world to live in. But, if you wish to remain the slaves of bankers and pay the cost of your own slavery, let them continue to create money."

By: Sir Josiah Stamp,
Director of the Bank of England (appointed 1928).
Reputed to be the 2nd wealthiest man in England at that time.

Money and Banking

Money is a human contrivance, the primary purpose of which is to enable the easy exchange of goods, services, and capital assets. The way in which a monetary system is designed and operated determines how effectively and efficiently it achieves that purpose.


Since money is such a fundamental and necessary element in the process of economic interaction, it has often been the object of political manipulation and control, and, in fact, central bank and government monopolies have become virtually universal throughout the world.

When people have a choice of currencies and exchange mechanisms, the advantages of exchange can be more fully realized, economic equity can be advanced, and people will be empowered to more fully meet their material needs.