An economics, investment, trading and policy blog with a focus on Modern Monetary Theory (MMT). We seek the truth, avoid the mainstream and are virulently anti-neoliberalism.
Wealth redistribution in progress.
That Wolf Street article deals with the fact that Spanish banks are employing a trick used by Barclays Bank a few years ago, namely creating money out of thin air and lending to people on condition they buy shares in the relevant bank.I argued yesterday on my blog that there was nothing wrong with that. But having slept on the problem, I now think that fake bank capital is not acceptable. See respectively:http://ralphanomics.blogspot.co.uk/2016/06/does-barclays-style-fake-bank-capital.htmlhttp://ralphanomics.blogspot.co.uk/2016/06/spanish-banks-fake-capital.html
Post a Comment