27 books
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14 voters
Policy
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Rather than pushing money into the economy, the central bank is in reality pulled by finance and its form of bank-created money—credit. The inconsistency between the official push story and the unofficial pull story, pretending they have competence when in reality they don’t, undermines the high priests of money and so often renders them after-the-event explainers rather than masters of money’s destiny. When you ask yourself why we have recurrent banking and financial crises, this is the answer—
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― The History of Money: A Story of Humanity
― The History of Money: A Story of Humanity
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While the power sector in Japan is traditionally relationship-driven, the pay-as-bid LTDA auction rewards pure cost-efficiency, enabling capable foreign developers to compete on merit. The number of foreign players successfully bidding in the auctions sends a strong signal that Japan is creating a more level playing field.
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