nathan tankus wrote: > on a recent thread "repeal fractional reserve banking was mentioned. > do large parts of pen-l really not know endogenous money theory?
I know all about it. It's why the money supply hasn't increased as much as it normally would given the Fed's expansionary policies. Why the interest in this issue? are you in favor of Friedman's old proposal (which he dropped) that there should be 100% reserve requirements? in practice these days, it's working: bank excess reserves exceed 100% of checkable deposits! -- Jim Devine / "In an ugly and unhappy world the richest man can purchase nothing but ugliness and unhappiness." -- George Bernard Shaw _______________________________________________ pen-l mailing list [email protected] https://lists.csuchico.edu/mailman/listinfo/pen-l
