Analyse de la crise financière actuelle Où vont-ils chercher ces milliards qu’ils n’ont pas Comment l’État assureur en dernier ressort permet d’accéder à la Banque centrale européenne, prêteur en dernier ressort Report as inadecuate




Analyse de la crise financière actuelle Où vont-ils chercher ces milliards qu’ils n’ont pas Comment l’État assureur en dernier ressort permet d’accéder à la Banque centrale européenne, prêteur en dernier ressort - Download this document for free, or read online. Document in PDF available to download.

Abstract

The first stage of the plan for rescuing French banks in October 2008 rules that a specialcompany owned by the State and the banks will borrow on the -markets- with the State warranty.The money collected will be lent to the banks so that they can finance economy. This is curiousbecause there is no explanation of money creation, as if -markets- created money. Actually wedemonstrate that the banks can use the special company to create money for themselves, then tolend the money to economy and use the State-warranted bonds as a collateral for refinancing fromthe European Central Bank. So the State behaves as an insurer allowing to borrow from theEuropean Central Bank.



Item Type: MPRA Paper -

Original Title: Analyse de la crise financière actuelle Où vont-ils chercher ces milliards qu’ils n’ont pas? Comment l’État assureur en dernier ressort permet d’accéder à la Banque centrale européenne, prêteur en dernier ressort-

English Title: Analysis of the current financial analysis. Where do they take these billions they have not? How the State, insurer in last resort, offers access to the European Central Bank-

Language: French-

Keywords: money creation; central bank; financial crisis-

Subjects: E - Macroeconomics and Monetary Economics > E4 - Money and Interest Rates > E42 - Monetary Systems ; Standards ; Regimes ; Government and the Monetary System ; Payment SystemsE - Macroeconomics and Monetary Economics > E4 - Money and Interest Rates > E44 - Financial Markets and the MacroeconomyE - Macroeconomics and Monetary Economics > E5 - Monetary Policy, Central Banking, and the Supply of Money and Credit > E51 - Money Supply ; Credit ; Money MultipliersE - Macroeconomics and Monetary Economics > E5 - Monetary Policy, Central Banking, and the Supply of Money and Credit > E58 - Central Banks and Their PoliciesE - Macroeconomics and Monetary Economics > E6 - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook > E65 - Studies of Particular Policy Episodes-





Author: Vallageas, Bernard

Source: https://mpra.ub.uni-muenchen.de/59236/







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