How Privatized Banking Really Works


322 120 4MB

English Pages [394]

Report DMCA / Copyright

DOWNLOAD PDF FILE

Recommend Papers

How Privatized Banking Really Works

  • 0 0 0
  • Like this paper and download? You can publish your own PDF file online for free in a few minutes! Sign Up
File loading please wait...
Citation preview

! ! !

"!#$%&!'$(!%)&!*+,!-&(./$0!$'!

1$2!*(/34%/5&6!7408/09!!"#$$%!:$(8.! 7;!4(?$.!+.,! +$-.! '.7,638(/! ?$(34++($! (3! ,@($)3,5$("".$1,22$'?;2%,+$ %$;&%7),7%2$7#&'$)3%)$:"#$7%+$,8;2'8'+)$,88'*,%)'2:/$ @3,5$("".$7"='&5$8#73$4&"#+*/$0)$53"15$)3%)$"#&$7#&&'+)$7&,5,5>$ %5$ 1'22$ %5$ )3'$ 4'+'&%2$ 9,+%+7,%2$ 5)ƺ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

#" $

!"#$%&'()*%+,"-."#/% HHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHH$

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d?"+#("2(-+5)1"

A)-="30"+#("W)-="&6"L->1)-%:"3-"H+)1$"3+"30"+#("L&*(5-,(-+0" (*(5$'#(5(" )5(" 6" +#)+" ,&0+" &6" (5,3-)+(%" 65&," +#(" 3%()" &6" 65((%&,?" M#30" ,&*(,(-+" (891&%(%" #(5(" 3-" +#30" 2&["" D(",:" )-%" A53113)-+" 5(*&1(130+32" (891&03&-?" /" ,&*(,(-+" +#)+" '&5=0" 3-" +#30" ,)--(5" 2)-"

;"+#("(-(5)1" 9)3-3->" ,&,(-+" +#(" 3-%3*3%(" +&" &+#(50?" /0" +#(" ,(00)>(" >5&'0:" 9&3->" &-" )11" )5&3->" #(190" +#53--3->" 9)5)>5)9#0:" +#(" 5()%(5C0" )99(+3+(" #)0" A((-" '#(++(%" (-&#" +&" ')-+" +&" A(2&,(" ,&5("

)2;3*3->"3+"0(53&0" &6" +#(" >5()+" 21)0032)1" -)+)*("(895(003&-"+&"3')++%HI(')0%"3-"]XX^b#)*(" 2&,(" %&'-" +&" -&5(%" A$" +#(" G('" l()1" &6" T5)-=13-" l?" _&&0(*(1+?" M#)+" ')0" 0(*(-+$U63*(" $()50" )>&[" /" >53,"

5(,3-%(5" +#)+" +#(" 5(63-0" )-%" A)032" +(-(+0" &6" /" )-%" ,&0+" 5(2&>-3P(%" 3-%(9(-%(-+" &5>)-3P)+3&-0"

2&,,3++(%"+&"095()%3->"65((",)5=(+"3%()0"#(5("3-"+#("K-3+(%"B+)+(0?Q""

/+"+#(0("+'&"'(A03+(0"$&:" )-%" +#($" #)%" A((-" %&3->"3+"6&5"%(2)%(0["

M#(5(" )5(" ,)-$" >5()+" 6&5(3>-" 02#&1)50" '#&" 2&" )-" 3%()" '3+#3-" 23*313P)+3&-" +#)+" ')0" 6)10(?" H-" 6)2+:" #(" A(13(*(%" +#30" 3%()" +&" A(" 0&"

%(10" )-%"

1(2+#+" )5&3-"

&-(C0"(%"3-*&1*(%"3-"+#30"A)++1("&*(5"+#(",3-%0"&6",(-?" "

8"&(*+:0+0%&(L#+90+B(!,+/&$%( "

H" )2=-&'1(%>(" &+#(5" >&&%" 653(-%0" )-%" 6(11&'" /3(0"'311"-&+" A("130+(%?"""

H+"30")10&"95&A)A1$"'30("6&5",("+&"9&3-+"&(,(-+"&6")11"+#("25()+&50"&6"+#(0("3%()0"'#32#"

H" #)*(" " +&" >3*(" &66323)1" 25(%3+?" /+" A(0+:" _&A(5+" )-%"H"#)*(")55)->(%"'#)+"'("+#3-=")5("A53113)-+"3%()0"3-")",)--(5"+&" 03-"+&"0#)5(" '3+#"_&A(5+"O" A&&=:" M&"$"2)&+#D$#B$%#=%++"$9"%(0253A(%"+#30"9)5+32(-(5)+3&-S"

D#(-"H"1&&="A)2="&-",$"&'-"2)5((5:"H"2)-"63-%"91(-+$"&6"

5()0&-0"6&5"%302&(,(-+:"9(50&-)1"%302&(,(-+?"H"#)*("-&+"

1)2=(%"6&5"3-%+#"A&&=0[#

/-%" $(+:" '#)+" #)*(" H" )22&,9130#(%." M#(" '&51%" 30"

(-&5,&