During the Parliamentary debate on Money Creation and Society yesterday Steve Baker (Conservative MP for Wycombe) stated that:
... there is a categorical difference between earning money through the sweat of one’s brow and making money by just creating it and lending it to someone in exchange for a claim on the deeds to their house.
Interestingly, the Hansard transcription of Steve's statement has omitted the phrase "just creating it and", thus reporting:
... there is a categorical difference between earning money through the sweat of one’s brow and making money by lending it to someone in exchange for a claim on the deeds to their house.
Is this an example of John K Galbraith's observation: "The process by which money is created is so simple the mind is repelled."?
Could the transcriptionist's brain simply not handle the truth?
Or is something more sneaky going on?