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Quote from Irving Fisher,


"Thus, our national circulating medium is now at the mercy of loan transactions of banks, which lend, not money, but promises to supply money they do not possess."


By:

Irving Fisher (more quotes by Irving Fisher or books by/about Irving Fisher)


(1867-1947) American economist

Source:

100% Money, 1935

Categories:

Banking, Economics, Fed, Money

Rating:

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