November 1, 2008

More madness from the RBI

In another move, RBI has cut key deposit rates.

If we continue like this banks will just not need customer deposits anymore to lend. Maybe thats the utopia everyone is looking for. We don't need more of the bad economic policies that got us to this state in the first place. We need to abolish foolish regulations and establish a 'sane' monetary policy based on a gold standard.

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