On Wednesday, October 29, 2003, at 12:02 PM, Patrick Chkoreff wrote:
On Wednesday, October 29, 2003, at 11:38 AM, Robert B.Z. wrote:"Your point is well taken, but you made one small mistake there, JP. 1mdc does NOT expand the money supply in any way. -- Patrick"
In a way it actually does. Much in the same way a bank deposit or holding
a <plug type="sales"> balance in a CF$ customer account </plug> does.
No, it does not behave at all like a bank deposit. Bank deposits are held for the purpose of fractional reserve lending, and that is what causes an increase in the amount of currency in circulation. 1mdc reserves are held in a completely idle status, and are not loaned out or used in circulation in any way whatsoever.
Well, JP would know best whether that gold is really intended to be idle, wouldn't he? Perhaps we should take his statement as a subtle warning? ;)
-- Randall Randall [EMAIL PROTECTED]
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