There really was a Venezuelan minister of finance who said that inflation was nothing to do with money, it was just capitalists raising prices.
Richard Kirby says:
October 20 2021 at 2:10 pm
I just read an article in the Evening Standard that reports that “Banks say financing loans is already more expensive due to the City expectations that rates are going up”.
This is puzzling, since as we know from the explainer on the Bank of England website, commercial banks create the money for loans and mortgages out of thin air by pressing a few keys on a computer, so why do they think they need to look for financing?
Richard Murphy says:
October 20 2021 at 4:04 pm
They have cash coming out of their ears
And they create all they lend
But they also want to profit out of any opportunity