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Liquidity and Debt Structures | The Twilight of Gold Series | Episode 7 (WiM158)
The "What is Money?" Show
What Should the Bank Do in a Depression?
A liquid system based on short term credit and credit that represents largely real sales is a system that prevents depressions in the first place. If you get to a depression, you're saying, what should the bank do? They've already lost the game. It's already too late. And i feel like what pale was talking about, wring to get into some of his other work, was about a banking structure thatpre n this being in the situation that we're in in the first Place.
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