06:52 1-3-2014, Mulaik, Stanley A:
>Mais le differentia inter le creation de un debito per
>prestar moneta a un altero e le creation del credito per
>un dono o per comprar con moneta create es le question
>aqui.  Le bancas private face debito con lor prestatos.
>Le banca central (Federal Reserve Bank) crea credito
>sin obligationes retornar le moneta quando illo compra
>le valor del banca. Le valor retornate al banca central
>comple le transaction.

Not true. By bying a treasury bill from a trader, by paying the
value into the buyer's bank account, the central bank adds bank
reserves. Bank reserves are debit on the bank's balance sheet and
credit on the central bank's balance sheet. The bank can later
reclaim these. It is not money for nothing (although by
definition, neither are money, because by definition, money in
any bank is NOT money. Only money held by the public is money).


>   Le banca ha su moneta e le banca central le valor.

No, the central bank has an extra liability. Not as asset.
(Sorry, I don't the terminology for all this handy in Interlingua
right now, I feel severely handicapped if I use that language.)

>   Le banca non debe pagar le banca central pro su moneta.

Le essentia de un 'cash reserve' es que le banca non-central pote
usar lo immediatemente si besonia. Ergo, si, le banca central
debe pagar, debe ser preste a pagar.

--
Ruud Harmsen, http://rudhar.com
Ressources sur interlingua: http://rudhar.com/lingtics/intrlnga.htm


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