The Century of Central Banking | The Snider Series | Episode 1 (WiM081)
The "What is Money?" Show
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How Does the Natural Rate of Interest Remediate Those Flees?
The natural rate of interest is supposed to move around and induce that kind of a flow, right? If money became tight in one area, demand for money would see the price of money go up. And it seems like it should work really, really well. But historically speaking, it's much more complicated. Because there are any number of frictions thatae introduced into the system,. including the way the banking system was worked under convertibility.
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