MOre boring crap on money creation

Doug Henwood dhenwood at
Wed Apr 12 12:55:21 PDT 2000


>I think there are cross purposes here. I never read Enrique as saying that
>the MMMFs were immune to a Fed tightening; I thought he was saying that the
>MMMFs were a secondary, uninsured banking system, and that money and credit
>figures which didn't take account of this sector were therefore flawed.

At 6:38 PM -0400 4/8/00, Enrique Diaz-Alvarez wrote:

>If Noland is right, and his argument does sound more persuasive, the Fed
>has effectively lost control over the US financial system.


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