DJP wrote:ALB wrote:If
DJP wrote:
ALB wrote:
If Positive Money really think that a bank could operate without outside funding
They don't seem to think this, but seem to be holding two contrary positions at once:http://positivemoney.org/2012/07/if-banks-can-create-money-how-come-northern-rock-went-bust/
Then I would like to borrow a million pounds from them created by bank credit (inside funding) not central bank reserves (outside funding). Presumably Northern Rock forgot about their ability to create "bank credit" without central bank reserves.