And has given practical faucet access to banks who have a financial interest in printing as much of it as they can so they can make money on it.
Requiring banks to "borrow" from the printer any time they lend (requiring reserves above a certain amount but "borrowed" money counts), and charging them negative real interest to do it is functionally equivalent to giving them the printer.
And has given practical faucet access to banks who have a financial interest in printing as much of it as they can so they can make money on it.
Requiring banks to "borrow" from the printer any time they lend (requiring reserves above a certain amount but "borrowed" money counts), and charging them negative real interest to do it is functionally equivalent to giving them the printer.
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