“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
Tweet The current monetary system negatively impacts on the environment in several ways. First, it creates a business cycle where recessions are positively correlated with the removal of regulation protecting the environment.
InvestmentNews Stephanie Kelton comes to Washington after ruffling feathers in adviser community InvestmentNews Stephanie Kelton, an economist whose controversial views on government spending has made her a hot-ticket item on the adviser conference...
We got some comments a week or so ago when we started the just-finished series on the Greek debt crisis. While no doubt well-intentioned, however, the comments were based on misconceptions about money, credit, banking, and finance, as well as the...
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