Coronavirus as a Symptom of Systemic Stagnation

... henceforth provide account holders with 100-per cent reserves in the state’s central bank in the form of highly liquid securities. This category of banks makes money through payment services only. With 100 per cent reserves, the government is thus able to finance its expenses at a zero-interest rate and does not have to resort to expensive loans. Accordingly, the issuance of risky loans would be transferred to the competencies of the second category of financial intermediary, which includes various non-banking ...