Why the New Policies of the ECB Won’t Work
Econintersect: GEI contributor Lee Adler, publisher of the Wall Street Examiner, makes several video presentations a week for his subscribers and issues some of them for the general public. Saturday he posted on YouTube a presentation from 13 June 2014 which discusses the operations of modern monetary systems and the latest maneuver by the ECB to charge 0.10% interest on excess reserves. He walks us through banking operations to show why this supposely revolutionary negative interest rate is actually just smoke and mirrors.
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