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2 July 2012
Financial Times gets it!
Financial Times published an excellent article of Martin Wolf, the chief economics commentator of FT and member of the UK government’s Independent Commission on Banking in 2010-2011, on Thursday June 28th, 2012: The case for truly bold monetary policy.
Financial Times published an excellent article of Martin Wolf, the chief economics commentator of FT and member of the UK government’s Independent Commission on Banking in 2010-2011, on Thursday June 28th, 2012: The case for truly bold monetary policy.
Here is a short extract:
It is the normal monetary system, in which the “printing” of money is delegated to commercial banks, that needs defending. This delegates a core public function – the creation of money – to a private and often irresponsible commercial oligopoly…