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Foolishness!
Hi,I'm a bank.Deposit $1000.00 & thru all the brainwashed, magical,economic theology,I can create $10,000.00. Can I win a prize,if I believe in FUBARed fictional reserve lending?
I know,I know, only debt can grease the wheels on our wonderful,unregulated,no prosecutions,economic system.
Too late to duck & cover?
HEY YOU said: Hi,I'm a bank.Deposit $1000.00 & thru all the brainwashed, magical,economic theology,I can create $10,000.00. Can I win a prize,if I believe in FUBARed fictional reserve lending?
If the reserve requirement is 10%, the bank can lend out $900 of that $1k deposit. There is no magic. You seem to prefer that they not be able to lend out any of their customers deposits. How do you suggest they make money?
You seem to prefer that they not be able to lend out any of their customers
deposits. How do you suggest they make money?
Do loans create deposits?
ttsmyf
2013 Oct 16, 11:38am
Apparently, the book will be titled "Phishing for Phools" -- sounds blunt force.
Both authors are Nobel awardees in economics.
Yesterday at
http://www.washingtonpost.com/blogs/wonkblog/wp/2013/10/15/robert-shiller-when-i-look-around-i-see-a-lot-of-foolishness-and-i-cant-believe-its-not-important-economically/
Robert Shiller is quoted:
“I'm writing another book with George Akerlof. ... It's about manipulation and deception in economics.”
Apparently, the book will be titled "Phishing for Phools" -- sounds blunt force.