functional sense, and after the fossil slaves depart, you will find that vernacular competence will be required again. But “jobs”, as they are now culturally defined, will be going away.
The Bottom Line: Most modern jobs are just an ad-hoc distribution system for fossil energy largesse.
How is Money Created?
“ Money creation in practice differs from some popular misconceptions — banks do not act simply as intermediaries, lending out deposits that savers place with them, and nor do they ‘multiply up’ central bank money to create new loans and deposits ”
~Money Creation in the Modern Economy – The Bank of England
“ Whenever a bank makes a loan, it simultaneously creates a matching deposit in the borrower’s bank account, thereby creating new money .”
~Money Creation in the Modern Economy – The Bank of England
“ The reality of how money is created today differs from the description found in economics textbooks. The majority of money in the modern economy is created by commercial banks making loans .”
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