I did say I did not account for tax.Also the bank wants your $20...

  1. TubbyH
    318 Posts.
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    02/06/14
    01:11
    Post #: 13445625
    I did say I did not account for tax.
    Also the bank wants your $20 so they can make the M. Not only that, your $20 is lent out and becomes an asset. Keeping say 10% in reserve they can then lend out another $18 that also then becomes an asset and so on.
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    lightbulb Created with Sketch.  Great analysis
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