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The Century of Central Banking | The Snider Series | Episode 1 (WiM081)
The "What is Money?" Show
Is Elasticity the Secret to System Stability?
Banking is posed to be the secret to all of thus behinda, money as well as economy. Banks are supposed to intermediate which means they're supposed to look at real economic projects and decide "this is stupid" The idea behind elasticity is that we keep banks in business, the good ones that are intermediate. And we want the bad banks to go out of business cause they've shown they can't intermediate. That's really what banking is supposed to do.
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