Joe takes a circuitous ride here. It starts at the Coffee With Joe video on the need for effective monetary policy in a so-called balance sheet recession where borrowing is constrained by IMBALANCES caused by the asset devaluation of both residences and commercial real estate.
SilverSoul7 claims that because banks make loans FIRST, and then acquire their reserves, this make our proposal - using the Kucinich money system model, is in error. Joe says -'au contraire', here.
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