https://padlet.com/hhglg123/ecomonicsassign_how_banks_create_money Made by Grace O'Donnell en-us 2018-12-05 18:47:19 UTC 2023-02-15 05:55:01 UTC hello@padlet.com https://padlet-assets.s3.amazonaws.com/icons/Manbag.png hhglg123 https://padlet.com/hhglg123/ecomonicsassign_how_banks_create_money/wish/311532971 Hello and welcome to my Padlet! I will be talking about how banks create money for us to use.]]> 2018-12-05 18:51:20 UTC https://padlet.com/hhglg123/ecomonicsassign_how_banks_create_money/wish/311532971 hhglg123 https://padlet.com/hhglg123/ecomonicsassign_how_banks_create_money/wish/311542975 http://qualicuminstitute.ca/money-creation/

This website is a goof one to look at for the fact that it tells us about how the banks came up with the system of how they take money and use great examples. One example they use is "In essence, we’re borrowing from the future in the hope that continued economic growth will allow us to pay off this debt." From what I have read the authors of this article don't agree with the way our banks are crating money. They tell us that they're relying on the hopes that we will be able to pay off everything we borrow which isn't the case for many people. ]]> 2018-12-05 19:05:50 UTC https://padlet.com/hhglg123/ecomonicsassign_how_banks_create_money/wish/311542975 hhglg123 https://padlet.com/hhglg123/ecomonicsassign_how_banks_create_money/wish/311549263 https://www.investopedia.com/ask/answers/100115/who-decides-print-money-canada.asp

This website goes much more in depth about who creates/ prints money in Canada. They tell us that it comes from two places, the Bank of Canada and chartered banks such as RBC (Royal Bank of Canada) . It tell us about the history of both and how each came to get the privileges to print the money. The Bank of Canada had the authority to prink the same day it was created where as charted banks can still not literally print money they can "create" it when they give out a loan to somebody. ]]> 2018-12-05 19:15:29 UTC https://padlet.com/hhglg123/ecomonicsassign_how_banks_create_money/wish/311549263 hhglg123 https://padlet.com/hhglg123/ecomonicsassign_how_banks_create_money/wish/311553711 https://medium.com/coinmonks/canadian-banks-create-money-too-6c69e2c3d8f5

This website is more so an article written by a man who goes extremely in depth how specifically private banks make money. He even goes as far as showing us with the equations  and balance sheets of how the money all works. The author also uses real life examples to help us better understand what all he's talking about. One of the examples he uses is "Suppose I lend $20 to a friend. I do this by giving my friend $20 in cash with the expectation that at some future date my friend will give me back $20. This is similar to what banks in the fractional reserve model do; although, if I were truly a bank and the $20 was all I had, then I could only lend out $18 and would have to keep the other $2 in reserve. But this is precisely what banks do not do. Banks do not lend out reserves or cash to their clients." which I think is a really good example. ]]> 2018-12-05 19:22:48 UTC https://padlet.com/hhglg123/ecomonicsassign_how_banks_create_money/wish/311553711 hhglg123 https://padlet.com/hhglg123/ecomonicsassign_how_banks_create_money/wish/311569784 This image shows us what people all across the world think about how our money is made. It's hard to tell, but majority of Canada doesn't know. How did you think money was made before you took this class?]]> 2018-12-05 19:51:10 UTC https://padlet.com/hhglg123/ecomonicsassign_how_banks_create_money/wish/311569784 hhglg123 https://padlet.com/hhglg123/ecomonicsassign_how_banks_create_money/wish/311649886 This image is actually from a website about the Parliament of Canada. This image is showing us how the balance between two different ways to get money.]]> 2018-12-06 01:26:13 UTC https://padlet.com/hhglg123/ecomonicsassign_how_banks_create_money/wish/311649886 hhglg123 https://padlet.com/hhglg123/ecomonicsassign_how_banks_create_money/wish/311666981 This Image shows us the basic gist of how it all works. People borrow money from the bank, meaning they pay it back, if they don't pay it back there becomes interest, when people pay back the money and the interest. The bank keeps the interest and pays the loans out the money back to other people.]]> 2018-12-06 03:18:51 UTC https://padlet.com/hhglg123/ecomonicsassign_how_banks_create_money/wish/311666981 hhglg123 https://padlet.com/hhglg123/ecomonicsassign_how_banks_create_money/wish/311670729 This video is a really descriptive way to show how the Government works with the Bank of Canada to create money.


]]> 2018-12-06 03:52:40 UTC https://padlet.com/hhglg123/ecomonicsassign_how_banks_create_money/wish/311670729 hhglg123 https://padlet.com/hhglg123/ecomonicsassign_how_banks_create_money/wish/311671031 This Video is a prefect one to use to explain how it all works, he tells you the math used and how much money the banks are creating off of each loan. ]]> 2018-12-06 03:55:01 UTC https://padlet.com/hhglg123/ecomonicsassign_how_banks_create_money/wish/311671031 hhglg123 https://padlet.com/hhglg123/ecomonicsassign_how_banks_create_money/wish/311671042 This is a TED Talk about how money is created, who makes it, where it comes from. And how "Digital Money" and Paper bank notes works. Which is very interesting. It's not Canadian, but he explains it in a way that would work for any country. ]]> 2018-12-06 03:55:08 UTC https://padlet.com/hhglg123/ecomonicsassign_how_banks_create_money/wish/311671042