Banking Secrets
The hidden practices of the global banking system, from fractional reserve lending to offshore tax havens.
OVERVIEW
The global banking system operates with practices that are often hidden from public view. Fractional reserve lending allows banks to create money through loans. Offshore tax havens enable the wealthy to avoid taxes. Central banks manipulate interest rates and money supplies. While these practices are often legal, they concentrate wealth and power in ways that are not widely understood.
KNOWN FACTS
Fractional reserve banking is standard practice
The Panama Papers revealed offshore accounts
Central banks openly set monetary policy
Wealth inequality has increased dramatically
CLAIMS
Banks create money through lending
Fractional reserve banking is fraudulent
The wealthy hide trillions in offshore accounts
Central banks manipulate economies for elites
EVIDENCE FOR
Fractional reserve banking is standard practice
The Panama Papers revealed offshore accounts
Central banks openly set monetary policy
Wealth inequality has increased dramatically
EVIDENCE AGAINST
Fractional reserve banking is necessary for modern economies
Offshore accounts are legal tax avoidance
Central banks serve important economic functions
Wealth inequality has multiple causes
OPEN QUESTIONS
No open questions recorded.
SOURCES
TIMELINE
Bank of England founded
Federal Reserve created
Panama Papers published