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Read the article and answer the following questions. https://www.bankofengland.uk/quarterly-bulletin/2014/q1/money-creation-in-the-modern-economy...
Read the article and answer the following questions.
https://www.bankofengland.co.uk/quarterly-bulletin/2014/q1/money-creation-in-the-modern-economy
Question 2a (1 page): Britain, Switzerland and most other countries in the world currently use the fractional reserve banking system. The Swiss National Bank (SNB) says that this system is a 'decentralised, two-tier' system, compared to the full reserve (or 100% reserve) banking system proposed by the Swiss Vollgeld Initiative (VGI). Explain how fractional reserve banking is a decentralized two-tier system. Use references.
