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Leading purveyors of misinformation...
 | Paul Krugman Incredibly, this Nobel prizewinning
economist seems to believe that the textbook description of fractional reserve banking is true
(see here),
despite overwhelming academic, and central bank sourced, evidence to the contrary.
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| Wikipedia It is the stated policy of
wikipedia that it should reflect the "textbook" version of the facts. Because of this, the
attempts by many people to update the site with "real world" facts have failed.
A recent comment by a wiki editor on a discussion page illustrates the kind of thing
we are up against: "The mere fact that the Governor of the Bank of England asserts
that such textbooks are unreliable does not necessarily make them so -- and certainly
does not for purposes of Wikipedia."
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| MoneyWeek magazine
produced a video entitled "How do banks create credit?" stuffed full of factual errors.
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| Zeitgeist - The Movie There is not enough room here to list all the factual errors in this anti-fractional reserve banking movie. Don't get me wrong, I think fractional reserves are dreadful in a variety of ways, just not in the ways suggested by this film. |
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