Credit card annual percentage rates surged as the Fed jacked up interest rates in order to quash inflation, making delinquency extremely costly for cardholders. The average APR is now a whopping 24.72%, according to Lending Tree. And though the Fed recently lowered its benchmark rate by 0.50 ...
Banks create “bank credit” from capital and deposits, as explainedhere.The Bank of North Dakota has $2.7 billion in deposits, or $4000 per capita. The majority of these deposits are drawn from the state’s own revenues. The bank has nearly the same sum ($2.6 billion) in outstanding lo...