Michael Kumhof, Deputy Division Chief for the Modelling Division at the Research Department, International Monetary Fund, IMF..”Financial reform for a sustainable economy.”. https://www.youtube.com/watch?v=YnAtHbDptj8.Läst 4 november 2014. ”Banks do not need to attract deposits before they lend money. Rather they create deposits out of nowhere in the act of lending it out. I'm a former bank manager, I worked for Barclay's for five years. I have created those book entries. That is how it works, and if a leading light economist such as Paul Krugman tries to tell you otherwise, then he does not know what he is talking about.”
