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David Weinkrantz's avatar

The article states, "... because part of the “capital” that the banks are required to hold as reserves against deposits are federal government notes and bonds."

I am unaware of any requirement for required reserves to be held in such a form.

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Andrew T's avatar

The quality of copyrighted editing today is atrocious. I've been around long enough to notice the decline. Errors that decades ago would be found only in small town rags I see regularly in The Times.

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