Thread: 'Base interest rate' and capitalism
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Unread 15 May 2007, 22:54   #24
Tomkat
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Re: 'Base interest rate' and capitalism
Quote:
Originally Posted by Tietäjä
Actual destruction of bills and coins seems vastly useless to me too. Could you elaborate why a central bank would destroy bills and coins, and what's the gain to it?
He just said that there wasn't any physical destruction of notes/coins, and that it was just an alteration in the database (and that the cash was held somewhere instead of being allowed to float around the economy). Read his post again.
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