81. Failing to see that commercial money
creation was behind the flood of money in
the new financial world, bankers and
financiers congratulated themselves on the
amount of money they were making.
As money markets have grown, bringing
together a wide range of financial
organisations including the banks, the
privatised financial system is effectively
creating money for itself.
Mary Melor, The Future of Money (Pluto Press, 2010), p.53