Terms search: inflation deflation both red herrings
I call it The Globalization Trap
Why do banks have all those excess reserves? For fun?
If they are so called excess above what is required, then why did they accrue them in the first place, especially if they are going to be bailed out again anyway in a financial crash, and thus don't need them for a crash either?
Why?
Don't tell me " banker rectitude '.
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