The Age of Debt Bubbles is a book on monetary policy proposing that money creation through fractional-reserve banking makes the monetary system debt-based. The book argues that economic bubbles, higher unemployment, recessions, and depressions are caused by central banks relying on inverted yield curves and tight monetary policy.
The Age of Debt Bubbles is a book on monetary policy proposing that money creation through fractional-reserve banking makes the monetary system debt-based. The book argues that economic bubbles, higher unemployment, recessions, and depressions are caused by central banks relying on inverted yield curves and tight monetary policy.
Source: Wikipedia "The Age of Debt Bubbles" · CC BY-SA 4.0
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