The real money-creating machines are commercial banks. Loan dollars become deposit dollars. Lots of lending means the money aggregates increase. Little lending means the opposite.
Pundits are hoping that instead of a crisis, we just get a "global economic slowdown." Given the damage done by central banks, a sustained slowdown would be a best-case scenario.
Mention the phrase “industry-sponsored clinical trial” and many eyes will immediately roll back. But, is the reaction justified? Dr. Milton Packer explains.
