Should Banks Have the Power to Create Money?

Should private banks have the power to create money?  "No" says Martin Wolf.

It is interesting and encouraging that the mainstream financial press is questioning the current banking regime.  Since many adults reject the reality of the banking system's foundation they may need to hear it from FT*, New York Times and WSJ in order to "believe".    

Those with an open mind can learn the simple truth about the financial system from many arenas.  Once the reality of the situation is understood there is hope of changing the foundation or just working around it.

Besides Wolf there have been many folks questioning the banking & money creation regime for decades.  One great author is Thomas Greco who writes at Beyond Money.  

In a response to Wolf he writes:

The problem is not private money creation, per se, but the monopolization of credit (money creation) in the hands of a private banking cartel and the collusive arrangement between bankers and politicians.

No matter how much you understanding the financial system I recommend reading Greco's work.

*Wolf's article was published in the Financial Times.