“There are three reasons why banks are not lending. The first one is that central banks did not let firms and businesses collapse as they should have in 2008.  Second, central bankers met with top political men and determined that banks would have to hold much higher ratios of cash to lending.  Third, the Federal Reserve and probably other central banks are paying banks NOT to lend. The electronic digits that are credited to banks are actually counted as assets and the US Fed therefore pays banks a few basis points on these ‘funds.'”

http://www.thedailybell.com/news-analysis/34723/Gold-Will-Have-Its-Day/

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