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S W
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Money and Credit 2: Credit - Nathan Lewis - New World Economics

Of course that is true. But loan rates can be jacked up significantly.
Any way..merry xmas to you Overthetop, even though your comment is condescending to say the least.

Commented 3038 days ago

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Beginning of the headline :"Money and credit" have tended to be mishmashed together, but they are very distinct. This confusion stems from the common practice of banks in the past (mostly before 1914) to both issue currency and also make regular commercial loans, like banks today. However, it is best to think of them separately. They are separate today, as the currency issuer (central bank) is distinct from commercial banks. They were also separate in the past, when only bullion coinage was used as money. In practice, thi... Read More

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