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WILDCAT STRIKE: An unofficial and usually spontaneous strike or work stoppage by union members. A wildcat strike is not authorized by the labor union representing the workers. Such strikes generally occur because (1) labor has specific problems or concerns that have not been satisfactorily addressed by employers or (2) workers feel that union leaders are not acting in the best interest of the union members. This is also termed an outlaw strike.
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Lesson 19: Money Creation | Unit 4: The Multiplier
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Page: 17 of 23
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The key to the deposit multiplier is required reserves. It is no coincidence that when the reserve ratio is 10%: - $10 of deposits require $1 of reserves and that $1 of reserves can back up $10 of deposits.
- It's all part of the same process.
The deposit multiplier is the inverse of the reserve ratio.The key to the deposit creation process: - Each bank keeps a fraction of the reserves received when checks are deposited and cleared.
- The bank sends along the rest to another bank by making a loan.
Therefore:- The less banks keep, the more they send to other banks and the more is used to perpetuate the process.
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FALLACY OF PERSONAL ATTACK The logical fallacy of arguing that something is bad because someone "associated" with the thing is ugly, has a funny nose, drives a foreign car, regularly watches daytime soap operas, or wears outdated clothing. This fallacy of personal attack runs rampant in the political arena. Some politicians promote the notion that only good people propose good policies, while bad people have bad policies. The fact of the matter is that good people propose bad policies and bad people propose good policies.
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YELLOW CHIPPEROON
[What's This?]
Today, you are likely to spend a great deal of time at a going out of business sale wanting to buy either a genuine down-filled pillow or one of those "hang in there" kitty cat posters. Be on the lookout for rusty deck screws.
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During the American Revolution, the price of corn rose 10,000 percent, the price of wheat 14,000 percent, the price of flour 15,000 percent, and the price of beef 33,000 percent.
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"The past is a foreign country; they do things differently there." -- Leslie Poles Hartley, Writer
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SWIFT
Society for Worldwide Interbank Financial Telecommunications
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