Re:Why inequality matters (2014)
by chordalkeyboard on Monday September 14, 2020 @04:51PM
(#24475006)
Right, the laws that govern the banking system require that banks have deposits on hand, so they can loan out a multiple of that money. This is well established and verifiable, and your link is broken.
Also, the mutual exclusivity of savings and consumption is basic economics and easily verifiable in an undergrad textbook.
I’m not interested in debating matters of fact when the references are clear and you persist in advocating clearly false characterizations.
Please read the BoE explainer, then go back and ready my original post, then go back and read the BoE primer until you understand how this stuff works.
Merely refusing to understand and repeating the misconceptions that the BoE (and anyone who understands this stuff) repeatedly says are false -- is not a good look and does not further the debate. You need to reassess your understanding of how banks work, or just stop digging in this thread.
Also, knock off with the "basic economics" when declaring things that are obviously false.