Sourcing hierarchy

We prefer sources in roughly this order:

  1. Primary data and official statistics — central banks, statistical agencies, the BIS, the IMF, the OECD, and national finance ministries.
  2. Central-bank research and peer-reviewed academic work — working papers, journal articles, and books from recognised researchers.
  3. Reputable textbooks and research institutes — for synthesis and background.
  4. Quality journalism — for context and chronology, not for core factual claims.
  5. Advocacy organisations — for their own positions, clearly labelled as such.

Every content page lists its sources. Inline citation markers resolve to the source register, so the same paper is not described inconsistently across pages.

Claim discipline

We try to distinguish:

  • Accounting identities from causal claims.
  • What a policy instrument does from what it is intended to achieve.
  • What the data show from what a model predicts.
  • Settled mechanics from contested interpretation.

Examples:

  • "Bank lending creates a deposit" is a balance-sheet statement. It is not the same claim as "banks can create unlimited money."
  • "The Fed sets a target range for the federal funds rate" is not the same claim as "the Fed controls every interest rate in the economy."
  • "Deflation can be harmful when debt is high" is not the same claim as "falling prices are always bad."

Where the evidence is contested, we say so. Where a claim is normative, we label it as normative.

Numbers and dates

  • Every number has a source and a date.
  • Data pages state the series, frequency, units, and update schedule.
  • Charts include a source line and a caveat where the underlying data are revised.
  • We do not present illustrative numbers as if they were current observations.

Corrections

  • Factual errors are corrected promptly.
  • Substantive changes are noted in the page's update history where one exists.
  • The "last reviewed" date is updated when a page is checked, even if no change is needed.
  • Corrections can be sent to [email protected].

Review schedule

  • Data pages: reviewed when the underlying series updates, at least quarterly.
  • Pillars and explainers: reviewed at least annually, or sooner if the research or policy environment changes materially.
  • Glossary: reviewed with the linked pages.

Use of automation and AI

Generative AI may be used for drafting, editing, or code assistance. It is not a source. A human editor verifies every factual claim and every citation. We do not publish AI-generated citations without checking the underlying source, and we do not use AI to fabricate quotes, data, or credentials.

Banks Create Money is an educational project. Nothing on the site is financial, investment, legal, or tax advice. Do not make financial decisions based solely on this site.