An interesting thing about SteemIt is that it allows the public at large to see how banks create money from money. The money that appears in our SteemIt Wallets is coming from the creation of a cryptocurrency.

When banks lend money, they actually are making money out of thin air. The interest and huge fees they charge businesses is icing on the cake.

People who use their cards wisely by paying off their balance each month get some of this free money in the form of cashback bonuses.

Unfortunately, credit based economics are prone to bubbles.

The huge swings in crypto-currency show the technology is prone to bubbles as well.

This aside, SteemIt is doing wonders for the world by showing its users how the financial industry makes money from money.