If one were to regard an economy as a living, breathing creature, money would really be able to live up to its comparison as the “lifeblood” of said economy.
But if money, or rather, finance, is the blood of an economy, the banking system is the circulatory system. No really, the banking system is actually a structure consisting of organisations and institutions that help keep the money in the economy flowing from those who have it(savers) to those who may need it(individual and organisational borrowers) and those who may use it(investors).
“There have been three great inventions since the beginning of time: fire, the wheel and banking institutions” -Will Rogers.
about 6 days ago