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Article #2187Re: TURMEL: Latest LETS Banking Mathematics
From: Malcolm O'Brien
Date: Sun, 17 Nov 1996 00:00
Date: Sun, 17 Nov 1996 00:00
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bc726@FreeNet.Carleton.CA (John Turmel) wrote: > The famous "reserve ratio" of a "fractional reserve system" sets >the limit on the amount of new money the private banks may create. It There are no longer any reserve requirements for Canadian banks. > The real power of banking is being able to refuse to turn on the >loans tap for one businessman and foreclose while turning it on for a >new loan to another businessman so he can buy out the first >businessman at auction. This was new revelation. Hadn't thought about it in those terms before. Malcolm The forgotten wisdom is this: The economy was made for man, not man for the economy.
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X-Google-Language: ENGLISH,ASCII-7-bit X-Google-Thread: 1135e9,bc402070490822c5 X-Google-Attributes: gid1135e9,public X-Google-Thread: fd5f7,bc402070490822c5 X-Google-Attributes: gidfd5f7,public X-Google-Thread: f504b,bc402070490822c5 X-Google-Attributes: gidf504b,public X-Google-Thread: fc3d0,bc402070490822c5 X-Google-Attributes: gidfc3d0,public X-Google-Thread: 102de8,bc402070490822c5 X-Google-Attributes: gid102de8,public X-Google-Thread: fb374,bc402070490822c5 X-Google-Attributes: gidfb374,public X-Google-Thread: 111a4f,bc402070490822c5 X-Google-Attributes: gid111a4f,public X-Google-Thread: fdbf3,bc402070490822c5 X-Google-Attributes: gidfdbf3,public From: 76703.4243@compuserve.com (Malcolm O'Brien) Subject: Re: TURMEL: Latest LETS Banking Mathematics Date: 1996/11/17 Message-ID: <328d49a8.31308128@news.compuserve.com> X-Deja-AN: 197060804 references: <5647p3$hq8@freenet-news.carleton.ca> organization: CompuServe Incorporated newsgroups: sci.econ,can.politics,can.general,ont.general,ott.general,carleton.public.general,carleton.alumni,ncf.general,ncf.ca.lets,alt.conspiracy