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Olduvai III: Catacylsm
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Money Multiplier is Really About Credit Out of “Thin Air”

MONEY MULTIPLIER IS REALLY ABOUT CREDIT OUT OF “THIN AIR” According to traditional economics textbooks, the current monetary system amplifies the initial monetary injections of money. The popular story goes as follows: if the central bank injects $1 billion into the economy and banks have to hold 10% in reserve against their deposits the initial […]

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Olduvai IV: Courage
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Olduvai II: Exodus
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