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To: SOROS who wrote (702)10/28/1998 10:01:00 PM
From: Fred Ragan  Read Replies (1) | Respond to of 1151
 
Paragraph six;

It seems to me that if banks could create $100 to lend from $6 deposited that you
would have an interesting money machine. To wit: $100 @ 5% = $5 Interest income
Less $6 @ 4 % = $.24 Interest expense
$5 - $.24 = $4.75 $4.75 / $5 = 95% Looks like a pretty profitable business to me.

Anybody care to explain how this might work?