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Banking Truth Unlocked in Short
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Steve Keen considers the following as important:
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Banking Truth Unlocked in Short
Topics:
Steve Keen considers the following as important:
This could be interesting, too:
Jeremy Smith writes UK workers’ pay over 6 years – just about keeping up with inflation (but one sector does much better…)
Robert Vienneau writes The Emergence of Triple Switching and the Rarity of Reswitching Explained
Lars Pålsson Syll writes Schuldenbremse bye bye
Robert Skidelsky writes Lord Skidelsky to ask His Majesty’s Government what is their policy with regard to the Ukraine war following the new policy of the government of the United States of America.
| Banking Truth Unlocked in Short |
I just dont understand the final sentence. I thought fract. reserve banking had nothing to do with cash necessarily, but just meant an arbitrary rule that says banks aren't allowed to loan out more than so many times their "reserves" (which are in the form of, I guess, a deposit acct at the Fed, whatever that means?)
That’s when you don’t do the accounting. When you do, the only way “Fractional Reserve Banking” works to create money is if all loans are in cash. Check the latest post on my Patreon and Substack pages for the proof