private banks create credit on the basis of a
cushion of capital specified by the Bank of International Settlements in Basel,
and this credit created out of thin air is exchanged for interest-bearing
Treasury debt
New Currency Frontiers: Reputations - 6 views
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It's going to be a whaacy world out there!
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more about reputation...seems like a recurring theme...
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it's right after attention and trust on the list of dimensions of Value - incidentally these metacurrency project guys are looking at dimVals as being each represented by a currency, and then providing a currency exchange (which is transformation of value) a little different from the econ models i've been talking about but not much
Asia Times Online :: Asian news and current affairs - 0 views
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The only constraint on credit creation is now the capital cushion that banks must hold to cover defaults by borrowers and operating costs
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Tax has never in 800 years in the UK been collected and then spent
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