“Most money in the modern economy is in the form of bank deposits, which are created by commercial banks themselves… When a bank makes a loan to one of its customers it simply credits the customer’s account with a higher deposit balance. At that instant, new money is created…”
the relationship between reserves and loans typically operates in the reverse way to that described in some economics textbooks. Banks first decide how much to lend depending on the profitable lending opportunities available to them…It is these lending decisions that determine how many bank deposits are created by the banking system. The amount of bank deposits in turn influences how much central bank money banks want to hold in reserve (to meet withdrawals by the public, make payments to other banks, or meet regulatory liquidity requirements), which is then, in normal times, supplied on demand by the Bank of England
UMKC professor among handful of economist to predict Eurozone fiscal downturn Video and article over at Kansas City’s KSHB highlighting NEP’s Randy Wray’s analysis of the problems with the European Monetary Union and his predictions that it would...
Jeremy Corbyn, who is currently leading in the polls for UK Labour Party leadership, has included in his platform "quantitative easing for people." The proposal has critics crying hyperinflation and supporters saying it's about time.
Sheffield Telegraph published the following letter by Steve Penny from the Sheffield local group on 17th September 2015: “Jeremy Corbyn is attracting criticism for his policy of creating money to fund public projects, but he deserves to be commended.
As we saw last week, the real problem with fractional reserve banking is not that it allows commercial banks to create money. That’s what commercial banks were invented to do. The problem is that fractional reserve banking forces a bank to make a...
Interesting news from our sister organisation MoMo in Switzerland: The survey results from a master’s thesis from the Institute of Finance and Banking at Zurich University confirm that Swiss people have no idea about how Swiss Francs are created.
Bill initially smacks down The Economist as a propaganda rag, but the rest of the article is an excellent primer on PQE and the difference between QE and the misnamed PQE. QE is a monetary operation and PQE is a fiscal operation.
This October (22-24) the FMM conference 2015 will take place in Berlin-Steglitz. The title of the conference is The Spectre of Stagnation? Europe in the World Economy. The program is available now on the website of the organizers.
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