Debt is a concept created ‘out of thin air’

The Central Bank of England and the German Central Bank have both said that debt is not loaned by commercial banks but is created ‘out of thin air’.

Many of us have being saying this for years, but I am not moved to trust this sudden ‘honesty’.

Austerity was rammed down countries’ throats because someone, somewhere, was out of pocket — or so we were told.