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by imtringued
1253 days ago
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The central bank only controls the nominal "time value of money". The money holders have a big impact on the real "time value of money". Why haven't you looked there? Also, the system behaves erratically even when there is no central bank. In fact, the erratic behaviour becomes even more frequent. That would imply that private market participants are a bigger factor in erratic behaviour than central banks. |
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