[ExI] Micro-loan programs not as successful as hoped

[Stefano Vaj]

2010/11/23 Dan <dan_ust at yahoo.com>:
> I'm not sure microlenders here are creating money. My impression was they
> have money that they loan out -- not that they are, say, like fractional
> reserve banks or fiat money central banks, producing money beyond their
> reserves.

I assume they are borrowing that money. In any event, ultimately all
money comes from reserve banks, and this is what I meant by "creating
money out of thin air", not necessarily that they may be fractional
bankers themselves...


-- 
Stefano Vaj