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Not all contrarians are the same
Debunking Economics - the podcast
The Deficit Is Not Equal to Number of Bonds Buying by the Central Bank
i used to tell you that i thought so much thhat the government money creation was equivalent to number of bonds bought by the central bank. A modern montry theoryis correct, and i was wrong on this point. It's the deficit itself that creates money, and it also creates the reserves that are used to buy the bonds. There's also bonds being sold by the private banks to the pubtyt non bank public that actually destroys money, or converts money into bonds. Ah, but that's, that's what made me change my mind, looking at the sisten dynamics. Yes, yes.
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