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Politics : Ask Michael Burke -- Ignore unavailable to you. Want to Upgrade?


To: BGR who wrote (72772)1/4/2000 9:15:00 AM
From: Freedom Fighter  Read Replies (1) | Respond to of 132070
 
BGR,

I have no problem with the free flow of savings across borders.

>>I thought that the banks served exactly this purpose!<<

In general, banks expand credit as fast as the Fed gives them reserves to do so. When it blows up they go back for more. I do not consider credit out of thin air to be a free market activity. Especially because the rest of us can't do it. (g)

Wayne