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Browsing Category »Uniform Commercial Code« Follow This Topic

Money as Debt II: Promises Unleashed (72min) →  November 10, 2009

“If two parties, instead of being a bank and an individual, were an individual and an individual, they could not inflate the circulating medium by a loan transaction, for the simple reason that the lender could not lend what he didn’t have, as banks can do…. Only commercial banks and trust companies can lend money […]