MONETARY BASE CONTROL
\mˈʌnɪtəɹi bˈe͡ɪs kəntɹˈə͡ʊl], \mˈʌnɪtəɹi bˈeɪs kəntɹˈəʊl], \m_ˈʌ_n_ɪ_t_ə_ɹ_i b_ˈeɪ_s k_ə_n_t_ɹ_ˈəʊ_l]\
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Who owns liquid currency, be it in reserves, in vaults, or in circulation. Federal Reserve Bank prints more money, financial institutions expand their own operations beyond their assets base. This loosens control of the base as it causes inflation.
By Henry Campbell Black
Word of the day
Snake's-head
- Guinea-hen flower; -- so called in England because its spotted petals resemble the scales of a snake's head.