Apple, Google and Microsoft Mock the Absurd 'Money Multiplier' Theory
The holiday season is a time of gatherings. Since it is, heres a proposal aimed to cure readers of a misbegotten obsession with banks, and their alleged ability to multiply money and credit. They can do no such thing.
To develop a sense for why, gather four friends at a kitchen table over the holidays and lay five crisp $20 bills on that same table. Youre Bank A, and lets assume you face no reserve requirements since in a sane world, banks wouldnt have to abide them.
Then look to you...