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Title: Iceland Considers Stripping Power to Create Currency From Banks Post by: ijphlrnxewho on April 07, 2015, 11:53:21 PM Iceland Considers Stripping Power to Create Currency From Banks
Would dramatically restructure tiny nation’s monetary system by stripping commercial banks of the legal ability to create currency out of thin air... http://www.infowars.com/iceland-considers-stripping-power-to-create-currency-from-banks/ Title: Re: Iceland Considers Stripping Power to Create Currency From Banks Post by: panju1 on April 08, 2015, 12:11:34 AM Iceland Considers Stripping Power to Create Currency From Banks Would dramatically restructure tiny nation’s monetary system by stripping commercial banks of the legal ability to create currency out of thin air... http://www.infowars.com/iceland-considers-stripping-power-to-create-currency-from-banks/ Huh? I am not sure how this will work. Essentially, what they are implying is Fractional Reserve = 1. If banks are made to keep all their deposits in reserves, how will they lend? :P Title: Re: Iceland Considers Stripping Power to Create Currency From Banks Post by: Miracal on April 08, 2015, 06:19:10 AM Quote Iceland hand over the power exclusively to politicians and central bankers under what is being labelled a “sovereign money” system. Iceland's existing monetary system is too loose and printing money can be made by the commercial banks without the permission of the politicians and central bankers. They just tight their monetary policy. But it doesn't change the fact that their fiat currency is still centralized and printed out from the air. |