Michael Kumhof Quotes

• The key function of banks is money creation, not intermediation.

  Michael Kumhof

  Keys, Creation, Function

  Speech at the Conference “Fixing The Banking System For Good” in Philadelphia, USA, positivemoney.org. April 17, 2013.

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• A key impact of recent events was a very persistent, if not permanent shock in the oil supply. This was caused as the oil industry hit geological boundaries, which meant that it could no longer maintain the historic growth rates in petroleum extraction.

  Michael Kumhof

  Impact, Keys, Oil

  4 Copy quote

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