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To: Toddsterpatriot
Smooth! You slid that 20% table in to explain your 10% theory.

Since the chart with the 10% reserves yielded over $900 of created money (Which was what we were talking about in the first place, a bank creating money, something you have steadfastly refused to acknowledge) you ignored that part.

Now you are sighting a table that shows $357.05 of something called "commercial bank money created" to prove that commercial banks don't create money.

To be fair, my understanding of the underlying mechanism banks use to create money was overly simplistic and a bit flawed. They add a few more steps of shuffling the money back and forth between each other using customers as proxies to pump it up.

I didn't quite have the mechanism right, but I did have the results nailed. A hundred bucks of 'new' money is multiplied by banks into approximately a thousand bucks of useful money.

Do I work for the government? Only as a taxpayer.

167 posted on 04/02/2008 5:45:46 PM PDT by null and void (It's 3 AM, do you know where Hillary is? Does she know where Bill is? Does Bill know what 'is' is?)
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To: null and void
Smooth! You slid that 20% table in to explain your 10% theory.

I didn't slide it in. It was from Pelham's link.

You realize your math still doesn't work? LOL!

168 posted on 04/02/2008 5:48:39 PM PDT by Toddsterpatriot (Why are doom and gloomers (and liberals) so bad at math?)
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