When you transfer money from one bank to another, are they just moving virtual bits around? Is anything backing those transfers? What prevents banks from just fudging the bits and “creating” money? 433 viewsJanuary 3, 2024 Question90.94K September 16, 2021 0 Comments When you transfer money from one bank to another, are they just moving virtual bits around? Is anything backing those transfers? What prevents banks from just fudging the bits and “creating” money? In: 1559 21 Answers ActiveNewestOldest Anonymous Posted September 16, 2021 0 Comments Money used to be a representation of gold and the mint had enough gold to back all of it. That didn’t last long. You are viewing 1 out of 21 answers, click here to view all answers. Register or Login
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