Quote:
Originally Posted by Jim in CT
I said that it’s good for the economy when people deposit money in banks. I was correct. You somehow made the Evil Kineval leap that I meant that banks would lower interest rates? Not sure how you concluded that.
But Spence, if you think I’m wrong, and that it’s better when banks have no depositors, you are entitled to that opinion.
Posted from my iPhone/Mobile device
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I think, but can't be sure when it comes to Spence, that he thinks that banks, wealthy folks, businesses, just sit on large chunks of money, preferring that it lose its value to inflation rather than moving it in ways to increase its value.