| Subject: | Re: [socialcredit] Replying to Vic (Deus Ex Machina) | | Date: | Monday, April 18, 2005 16:42:17 (+0200) | | From: | Jessop Sutton <sutton @...........za>
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On Monday 18 Apr 2005 1:05 am, Trevor Crosbie wrote:
> I can't believe that Vic or Mr.Bridger haven't latched on to the fact that
> the "fractional reserve" system was effectively dismantled in the 1980s
> when the central bankers adopted a basic accord which eliminated the
> fractional reserve requirements in favour of "risk weighted capital
> requirements". They were able to do that because what was used in the
> reserves equation became irelevant as the ratio of debt to cash exceeded
> 95%.
=======================
Not so in South Africa. We still maintain a statutory reserve, even though it
is small. Whichever way you look at it, it does serve to regulate the money
supply.
Jessop.
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