The holiday season is a time of gatherings. Since it is, here's a proposal aimed to cure readers of a misbegotten obsession with banks, and their alleged ability to “multiply” money and credit. They can do no such thing.
To develop a sense for why, gather four friends at a kitchen table over the holidays and lay five crisp $20 bills on that same table. You're Bank A, and let's assume you face no reserve requirements since in a sane world, banks wouldn't have to abide them.
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