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32. PJ Pierre

Mutiny Investing Podcast

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Quantitative Easing Isn't Going to Promote More Bank Lending

The concept of a fractional reserve, you realize it doesn't make sense in a fixed exchange world. Bank lending is constrained by the cost of money or the cost of reserves can be prohibitive. The government has had the ability to spend even on a fixed exchange system. So should banks be running like a household? And that's where these analogies come from.

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