Principles of Liquidity | The Twilight of Gold Series | Episode 8 (WiM166)
The "What is Money?" Show
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What Is an Open Market Operation?
There should no more be a national rate of interest than there should be a national price of motorcycles. That doesn't work in any market, ever, anywhere. The only reason that they have this control is because they control the market for credit securities. They don't even have real control of the intrestrate lever. They are just using their fake inventory to control the interest rate lever. It would change industry to industry, location, location, borrow or to borrower. Yes, exactly.
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