jim devine said... "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!" nope. precisely the opposite. some people talked about the abolishment of fractional reserve banking in that thread. that to me shows no awareness of how banks actually create money, this is something i was surprised at given the acceptance of (some parts) of minskyan theory here (minsky of course being a very early proponent of endogenous money). _______________________________________________ pen-l mailing list [email protected] https://lists.csuchico.edu/mailman/listinfo/pen-l
