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The Importance of Money Supply
Money in circulation is a consequence of production that's why there's lots of money in Palo Alto and in Laguna Miguel but very little in El Monte. Money circulates in enormous amounts in Palo Alto but it doesn't circulate much at all in West Baltimore. If you if we have this rate at every dollar in the world today rest assured there'd be all sorts of euros and yen and won circulating in the US tomorrow.