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He thought it better to replace its control over interest rates and the money supply with a mechanical rule for monetary growth. Indeed, money supply growth in both Japan and Germany remains depressed in spite of historically low interest rates seen in both countries. And there are some people who do something about it--we all know about the Fed making adjustments to the money supply and the 68 getting together to jaw bone and Bono getting on stage to call for debt relief and . |
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