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Maroon Macro: All They Told You About Money Printing is Wrong
Market Depth
The Potential of Bank Reserves to Be Infletionary
98 to 99% of transactions are not made using physical currency. So these reserves are basically stuck in the system, in the banking system. You just change the form at from bank deposits into cash and vice versa. But ultimately, the total amount of spendable money isn't changed by this operationthat ta'sn't likely, correct.
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