> CB: Sure. How about M1 + M2+ M3+M4 ? How about this: M(1)+M(2)+M(3)+M(4)+..+M(n-1)+M(n)+M(n+1)+...?
In other words, the summation of M(i) over i as i goes to infinity? I guarantee you that it is not a finite number, given that the only accounts for which there are reserve requirements are the so-called transaction (that is, checking) accounts in the US. If you sum infinitely many ones, the result is infinity, is it not? And some claim that Central Banks can still control the money supply. Best, Sabri _______________________________________________ pen-l mailing list [email protected] https://lists.csuchico.edu/mailman/listinfo/pen-l
