Eurozone sentences to ponder

Put another way, there are not enough creditworthy counterparties in the system to encourage any sort of money multiplication effect at all.

That is Izabella Kaminska, there is much more at the link.

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full reserve banking go!

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Looks like the ECB will be increasing the money supply.

Also, VOX had a piece on how, instead of looking Bernanke's savings glut, what we may have had is overleveraging of financial institutions which created the sloshing supply of credit. Reducing leverage will be reducing the money supply, or its equivalents.

Will be interesting to see what the ECB does.

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Does it not follow that the best policy for the Eurozone is extremely stringent anti-Keynesian austerity? Every argument in favor of stimulus applies here, only in reverse.

No, this is contractionary.

Contractionary for who?

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Invest in giant vaults.

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To hard to resist:

Wouldn't mr. P.K. call this: "The mother of all liquidity traps"?

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