----- Original Message -----
Sent: Saturday, April 30, 2005 11:33
AM
Subject: Re: [socialcredit] Reply to
Keith Wilde X 2 -continuing.
Vic Bridger wrote:
Loans do not come from depositors
deposits. . . . . . . . . . . . Deposits come from
loans.
Tim Knight now writes:
I believe that neither is true! There is no
chicken and egg here.
I believe that when a depositor deposits a cheque
(for e.g.), that single transaction comprises a
simultaneous and inseparable deposit and loan:
- The bank credits the account of the depositor
(i.e. the bank takes a deposit from the depositor).
- The bank debits the account on which the cheque
is drawn (i.e. the bank extends a loan to the holder of that account).
Best Wishes
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