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I don't see what this will actually change. If the SNB is the sole provider of money, whether electronic or currency, they will inevitably become the sole provi
by teilo 8y ago
I don't see what this will actually change. If the SNB is the sole provider of money, whether electronic or currency, they will inevitably become the sole provider of loans, with the banks serving as brokers for those loans. Net zero game.
- jabgrabdthrow 8y agoPersonally I am peeved that I can’t individually make fractional reserve loans in genuine fungible currency (costs ~$30m to be a bank), so I’d like to choose a zero-sum point where the rich don’t get richer by default
- hn0 8y agoThe difference is, at least in theory, that boom-bust cycles from bank-fuelled speculative frenzies could be controlled.