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Why do we need private banks at all? | 133 comments (133 topical, editorial, 0 hidden)
Re: Why do we need private banks at all? (none / 1)
Only the central bank can create money as needed.

The other banks can only create the money they lend. When they have to make an actual payment to another bank, they need actual money (i.e., liquidity).

There are three stories about the euro crisis: the Republican story, the German story, and the truth. -- Paul Krugman

by Carrie (migeru at eurotrib dot com) on Wed Feb 29th, 2012 at 10:47:49 AM EST
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Why do we need private banks at all? | 133 comments (133 topical, 0 editorial, 0 hidden)
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