Is money too cheap, or too dear? Both

posted by
April 27, 2011
Center for a Stateless Society
by Kevin Carson  
Posted in Commentary

"The money issued by capitalist banks is indeed fiat money, created out of thin air, as the right-wingers say. When the Fed reduces reserve requirements for banks, it increases the amount of money the banks can lend into existence — at interest. So the money is artificially cheap for the privileged banking monopoly to create — but at the same time, it’s artificially expensive for those that depend on them as a source of credit." (04/26/11)  

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