SLP198 Caitlin Long - What Are Austrian Economists Missing About Money And Banking?
Stephan Livera Podcast
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Dollar Cash Is More Valuable Than Us. Government Bonds
In some markets, it's viewed as more valuable than us. Why? Because you can't rehypothecate cash. That's called fractional reserve banking. But you can rehypotheCate securities. And that helps explain why the traditional, simple model of every time a dollar got injected of m zero, it turned into ten dollars of m two doesn't apply any more.
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