Robert B. Anderson Quotes

When a bank makes a loan, it simply adds to the borrower's deposit account by the amount of the loan. It does not take this money from anyone else's deposit; it was not previously paid in to the bank by anyone. It's new money, created by the bank for the use of the borrower.

Robert B. Anderson

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Robert B. Anderson

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Born: June 4, 1910
Died: August 14, 1989
Occupation: Former United States Secretary of the Treasury
Cite this Page: Citation

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