Over the past year, bank reserves have actually declined by about $ 1 billion,
while currency in circulation has increased by about $ 33 billion.
Not exact matches
As noted last week, even with aggressive Fed easing, the entire increase
in the monetary base over the last year has been drawn off as
currency in circulation,
while bank reserves (as well as commercial and industrial loans) have declined.
The complementary
currency itself has declined
in importance over the period
while levels of overall consumption of goods and services have increased (although it is unclear whether the recent digitisation is to change this) A detailed study18 of the usage and
circulation of the Palma found that around half of its usage was accounted for by just 6 economic actors
in addition to the Banco Palmas itself: four local stores selling basic consumer items, the neighbourhood petrol station, and a party and décor shop.
While it's clear that the Fed would like lawmakers and the public to believe that it has exquisite control of the monetary base, it is much harder to control
currency in circulation than it is to control bank reserves.
In Totnes, Devon, a local currency is now into its second year, while in the US town of Berkshire, Massachusetts, more than one million «Berkshares» have gone into circulation since it started a couple of years ag
In Totnes, Devon, a local
currency is now into its second year,
while in the US town of Berkshire, Massachusetts, more than one million «Berkshares» have gone into circulation since it started a couple of years ag
in the US town of Berkshire, Massachusetts, more than one million «Berkshares» have gone into
circulation since it started a couple of years ago.