nathan tankus wrote: > 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).
I, for one, was treating the "abolish fractional reserve banking" as being absurd, up there with the "911 truther" stuff. Shane is right that the 100% reserve requirement is very old (BMF, i.e., before the MF). I don't know why MF dropped the proposal. Maybe because it was unpopular with the bankers who paid him for public speaking? -- 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
