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I've spent considerable time and effort to try and understand precisely how banks can currently create money. One issue that arises--if banks have such a good deal, why doesn't everyone with a few million dollars to invest go out and start one? I would appreciate it if those with intimate knowledge...
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I just finished the lecture course by Peter Klein and Joe Salerno, the Causal-Realist Approach to Economics, and the last lecture on banking and the business cycle was very fascinating. However, I was confused when Mr. Salerno said that the costs go up in the capital goods industry. Firstly, bank reserves...
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I just read a section of a report issued by Ron Paul on the gold standard, in which he made the point that interest rates during the 1800s were between 3 and 5 percent, while the developed world was on the gold standard, and that this was a realistic number for rates to fall to. However, if 100%-reserve...