December 13, 2009 – DEATH OF PAUL A. SAMUELSON, ECONOMIST, AUTHOR OF ECONOMICS, AN INTRODUCTORY ANALSYS (BEST SELLING ECONOMICS TEXTBOOK OF ALL TIME)

2009 – DEATH OF PAUL A. SAMUELSON, ECONOMIST, AUTHOR OF ECONOMICS, AN INTRODUCTORY ANALSYS (BEST SELLING ECONOMICS TEXTBOOK OF ALL TIME)
“Few understand that all our money arises out of debt and IOU operations. The banking system as a whole can do what each small bank cannot do: it can expand its loans and investments many times the new reserves of cash created for it, even though each small bank is lending out only a fraction of its deposits.”