How the actual magic money tree works

85% of MPs were unaware that new money is created every time a bank extends a loan. Were you?
Shock data shows that most MPs do not know how money is created. Responding to a survey commissioned by Positive Money just before the June election, 85% were unaware that new money was created every time a commercial bank extended a loan, while 70% thought that only the government had the power to create new money.The results are only a shock if you didn’t see the last poll of MPs on exactly this