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  • Re: What is the cause of the current deflation?

    [quote user="Okooka"]But isn't the problem with FRB as well? Banks give out multiplied ammount of credit based on deposits, so when a crisis hits and people start to default, the money supply contracts. Do I have anything wrong with seeing it like that? Admittedly I still don't quite...
    Posted to Economics Questions (Forum) by Charles Anthony on Thu, Nov 27 2008
  • Re: Why have a Central Bank?

    Ron, You are quite right about both Rothschild's quote and your statement that Britain does not have a 100% reserve system. Private banks played an extremely important role in financing nations and issuing their currencies in the 19th Century, and the Rothschild's among others profited greatly...
    Posted to Economics Questions (Forum) by PhCrawford on Mon, Sep 15 2008
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