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A critique of the ECB's liquidity policies | 66 comments (66 topical, editorial, 0 hidden)
Re: I've got a feeling (none / 1)
eurogreen:
Creating money out of nothing, according to the operating doctrine of the ECB, is inflationary and therefore a Bad Thing.

...only if it is a public bank doing so.

Private banks may do so all day every day, but they inflate the cost of the money they create - which is shared admin costs and default costs - by paying fatcat salaries and returns to shareholders.

"The future is already here -- it's just not very evenly distributed" William Gibson

by ChrisCook (cojockathotmaildotcom) on Fri Feb 25th, 2011 at 08:13:38 PM EST
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A critique of the ECB's liquidity policies | 66 comments (66 topical, 0 editorial, 0 hidden)
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