Don't worry about Creating money Robin Hood.
I'm not interested in arguing about money or its creation.
I agree with you and its fantastic, and here to stay! Because it is necessary.
Who said I do not believe Banks create it? For as long as they keep creating it and the economy keeps sponging it up and they continue giving me some, then all is good in the world and everyone prospers.
Without the CB and without Commercial Lenders, you are back in the stone age and you can forget about your free MRI Scan which is funded by the tax payer, or in the RoC's case, borrowings.
So you can see. Nothing is ever for free.
It's not free for the Banks either as we saw with Laiki and BoC.
You should count yourself lucky that the RoC does this in this environment. Because they don't have to. I for one am an economic rationalist. Whilst I believe free health is a great and something to aspire to, I do not believe that the RoC should provide it at the expense of the tax payer when it needs to borrow the money. I believe that if the RoC has $10 in revenue, they should only be spending $9 and not $20.