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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory
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To: basho who wrote (49315)1/10/2006 11:20:13 AM
From: Tommaso  Read Replies (1) of 110194
 
OK fair enough.

I must say that what he says sounds more like what someone writing 200 years ago might say about banking as it had developed up to that point. I was in fact taught these things fifty years ago in an introductory economics course, and to see them presented as if they were newly-discovered weaknesses in the banking system is odd.

What has happened, as everyone knows, since the 1930s is that deposit insurance has put an end to runs on banks and has also introduced a permanent bias in the direction of inflation into the money supply.
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