Matthew Yglesias

@mattyglesias ↗

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Last Checked March 18, 2023

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Tue Mar 14 22:22:17 +0000 2023

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Matthew Yglesias @mattyglesias

Ability to do this is constrained by regulations and prudential considerations and thus in some sense related to the bank’s ability to raise money from deposits or elsewhere. But at the margin the lending activity creates money that doesn’t come from anywhere. https://t.co/MupVYNWFrK — PolitiTweet.org

Posted March 14, 2023

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Matthew Yglesias @mattyglesias

Maybe a clearer example for the modern world of how banks create money is credit card transactions. A sale is made, and your bank pays the seller based on your promise to pay the bank back later. Where did your bank get the money? Nowhere — there’s just more money now. — PolitiTweet.org

@jasoncrawford @moskov @AlecStapp I think it’s more intuitive in a gold-backed system. The amount of money in circu… https://t.co/GgRkfur8DM

Posted March 14, 2023

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Matthew Yglesias @mattyglesias

So the situation has already been resolved the way the VCs wanted, and I think the best thing now would be for them to stop doing defensive tweets. (maybe throw their support behind regulating large regional banks as systemically significant) — PolitiTweet.org

It’s painful for me to watch so many smart pundits and politicians on both the right and the left buy into a media… https://t.co/dwKikovdXi

Posted March 14, 2023