Synonyms that are in the dictionary are marked in green. Synonyms that are not in the dictionary are marked in red.
Antonyms that are in the dictionary are marked in green. Antonyms that are not in the dictionary are marked in red.
And as demonstrated in this article, it is the expansion of central bank credit, not commercial bank credit, which undermines currency values on a non-cyclical basis.
Source: https://www.lewrockwell.com/2023/07/alasdair-macleod/inflation-will-return/
And as demonstrated in this article, it is the expansion of central bank credit, not commercial bank credit, which undermines currency values on a non-cyclical basis.
Source: https://www.lewrockwell.com/2023/07/alasdair-macleod/inflation-will-return/
As the Fed started Quantitative Tightening and raising interest rates, bank credit growth slowed to about 2% before abruptly contracting after the SVB failure.
Source: https://seekingalpha.com/article/4617317-an-update-on-the-banking-crisis?source=feed_all_articles
Given the far larger quantities of non-bank credit which depend for its facilitation on bank credit, the negative impact on the economy of banks becoming risk averse is poorly understood.
Source: https://www.lewrockwell.com/2023/01/alasdair-macleod/the-evolution-of-credit-and-debt-in-2023/
Improvement in bank credit to the commercial sector in spite of increase in lending rates, easing current account deficit and subsiding inflation pressures indicate stability in the economy.
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In other words, as commercial banking became increasingly efficient as a system, the impact on prices from the bank credit cycle as credit was alternately expanded and contracted diminished.
Source: https://www.lewrockwell.com/2023/12/alasdair-macleod/free-banking-myth-and-reality/
It appears that not only is the cycle of global bank credit turning down with an unexpected violence, but it has long outlasted its ten-year cyclical framework.
Source: https://www.lewrockwell.com/2023/03/alasdair-macleod/credit-chaos/
Last week, in an article for Goldmoney I explained why when tied convincingly to gold, commercial bank credit grows on a non-inflationary basis when distortions from the lending cycle are removed.
Source: https://www.lewrockwell.com/2023/07/alasdair-macleod/the-bell-tolls-for-fiat/
Powell's comment that policy rates may not have to rise as far as otherwise due to tightening bank credit conditions seems to be the catalyst.
Source: https://www.forexlive.com/centralbank/fed-powell-inflation-is-far-above-that-objective-20230519/
The contraction of bank credit is likely to be more catastrophic in these jurisdictions than in the US, where ratios for G-SIBs are commonly less than twelve times.
Source: https://www.lewrockwell.com/2023/03/alasdair-macleod/credit-chaos/
This does lead to disruptive fluctuations in bank credit, but they are self-correcting.
Source: https://www.lewrockwell.com/2023/10/alasdair-macleod/constructive-and-destructive-roles-of-credit/