On 17 December 2013 09:02, meekerdb <[email protected]> wrote: > You always refer to "central" banks. But all banks always did this. The > bank would take 1M$ in deposits and then make 10M$ in loans, depending on > the fact that statistically only a few depositors would ask for their money > at any one time. So they collected interest on 10M$ while only having to > pay interest on 1M$ (if at all). >
On the subject of "always did this" --- I believe Karl Marx said something similar? -- You received this message because you are subscribed to the Google Groups "Everything List" group. To unsubscribe from this group and stop receiving emails from it, send an email to [email protected]. To post to this group, send email to [email protected]. Visit this group at http://groups.google.com/group/everything-list. For more options, visit https://groups.google.com/groups/opt_out.
