why oz banks borrow money from foreign banks?, page-24

"It is not a ponzi scheme, when banks lend, they create a both a deposit, and a liability which sum to zero."


You forgot interest.

There are more loans out there than cash at bank.


Therefore interest eats up all the cash. Asset prices need to increase so that new loans are created to be able to pay for the existing interest.

Your quoting of the Charlatans words that are cleverly designed to hide the system as they profit so much from it is laughable.

No disrespect intended.