Others can take this thread more seriously and respond competently and in
full. I will however respond to James Ahiakpor's question -- "From where
do banks get their finance?" with a suggestion that Kindleberger's
-Financial History of Western Europe- provides one very good
and full explanation. HES doesn't seem to me the appropriate place to lay
out the story of the development of fractional reserve banking.
Anne Mayhew
1101 McClung Tower
University of Tennessee
Knoxville, TN 37996-0411
PH: 615-974-1689; FAX: 615-974-3915; E-MAIL: [log in to unmask]