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Fred, you misunderstand what Ted suggested. Banks and Credit Unions HAVE to hold onto reserves because that's the way those funds are collateralized. He's not saying to scrap that requirement, but rather to restructure that collateralization on a national scale so that more of those funds are voluntarily available for lending.
It is a complex subject. I work in the financial industry, so it's apparent to me that it's not double-speak, but rather just that Ted Wheeler knows what he's talking about. (Though it sounds very nerdy, he's obviously got a firm handle on these concepts.)
posted 2 years, 7 months ago
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