My Board

steve keen explanation of money creation by banks

http://www.theaustralian.com.au/busines ... 838103822f

http://www.nea.com/blog/does-fund-size-matter

http://www.apra.gov.au/AboutAPRA/Pages/ ... funds.aspx

https://theconversation.com/hard-eviden ... come-52871

http://www.sciencedirect.com/science/ar ... 1915001477

Highlights
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The three theories of how banks function and whether they create money are reviewed
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A new empirical test of the three theories is presented
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The test allows to control for all transactions, delivering clear-cut results.
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The fractional reserve and financial intermediation theories of banking are rejected
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Capital adequacy based bank regulation is ineffective, credit guidance preferable
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This is shown with the case study of Barclays Bank creating its own capital
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Questions are raised concerning the lack of progress in economics in the past century
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Policy implications: borrowing from abroad is unnecessary for growth

http://www.youngprogressivevoices.com/2 ... can-media/

https://benjaminstudebaker.com/2015/05/ ... d-cameron/

https://benjaminstudebaker.com/2016/02/ ... #more-2671

http://www.forbes.com/sites/stevekeen/2 ... b94ab810a6

http://www.nytimes.com/interactive/2015 ... share&_r=0

http://www.abc.net.au/news/2015-08-26/f ... ts/6725118

he Washington Post ran an article last week reporting that 65 per cent of the richest people in Australia had amassed their wealth via political connections rather than via innovative businesses.

According to the quoted research, Australian residents are rewarded for their political connections about as much as Indonesian or Indian residents, with Colombia offering the biggest rewards. Notably, the Australian situation is in stark contrast to that of the US, where only 1 per cent of the billionaires reportedly made their wealth through political connections