Money Creation in the Modern Economy

Re:Money Creation in the Modern Economy by lottin on Sunday January 15, 2023 @06:24AM (#34388602)

The role that commercial banks in money creation has been known since much before the 2000s. It's all laid out in Keynes' General Theory which was published in 1936, and it wasn't even a novel idea at the time.

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Re:Money Creation in the Modern Economy by paganel on Sunday January 15, 2023 @07:25AM (#34388887)

Like I said previously, the Bank of England wasn’t acknowledging that as a fact publicly until quite recently, which most probably had an effect on their actions/decisions.

For example the same Keynes had some other better known takes which have also not been acknowledged as facts to this day.

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Re:Money Creation in the Modern Economy by lottin on Sunday January 15, 2023 @08:02AM (#34389087)

So you're saying that the Bank of England was involved in a conspiracy that wouldn't acknowledge something that has been public knowledge for over a century?

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