@return2ozma@lemmy.world to News@lemmy.world • 23 days ago72% of Americans Say the Rich 'Have Too Much' as GOP Pursues Another Handout for Billionaireswww.commondreams.orgexternal-linkmessage-square91fedilinkarrow-up11.03Karrow-down17cross-posted to: usa@midwest.socialaspen_anti_billionaire_society@midwest.social
arrow-up11.03Karrow-down1external-link72% of Americans Say the Rich 'Have Too Much' as GOP Pursues Another Handout for Billionaireswww.commondreams.org@return2ozma@lemmy.world to News@lemmy.world • 23 days agomessage-square91fedilinkcross-posted to: usa@midwest.socialaspen_anti_billionaire_society@midwest.social
minus-square@sqgl@sh.itjust.workslinkfedilink1•edit-221 days agoAm no expert but didn’t the money come from the banks virtual reserves? In which case the total money in the economy hasn’t changed. Before the house purchase it would have been in other investments, no?
minus-square@iopq@lemmy.worldlinkfedilink1•21 days agoNo, because they are allowed to do partial reserves. I assumed a reserve ratio of 10:1
minus-square@sqgl@sh.itjust.workslinkfedilink1•21 days agoOK, thanks but then that raises another question: Doesn’t expanding the money supply devalue the dollar?
minus-square@iopq@lemmy.worldlinkfedilink1•edit-221 days agoYes, that’s why the Fed in raising the interest rates actually lowers inflation
Am no expert but didn’t the money come from the banks virtual reserves? In which case the total money in the economy hasn’t changed.
Before the house purchase it would have been in other investments, no?
No, because they are allowed to do partial reserves. I assumed a reserve ratio of 10:1
deleted by creator
OK, thanks but then that raises another question: Doesn’t expanding the money supply devalue the dollar?
Yes, that’s why the Fed in raising the interest rates actually lowers inflation