Fractional reserve lending of concrete blocks
Posted: Fri Oct 15, 2010 12:56 pm
A Ghanaian fable.
http://worldcomplex.blogspot.com/2010/1 ... naian.html
Poor Kofi is trying to accumulate blocks to build a house. He meets a clever fellow who sells him a piece of paper representing blocks held in storage. Hilarity ensues.
http://worldcomplex.blogspot.com/2010/1 ... naian.html
Poor Kofi is trying to accumulate blocks to build a house. He meets a clever fellow who sells him a piece of paper representing blocks held in storage. Hilarity ensues.