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on Aug 31, 2020
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Banks create money, but it's less impressive than ...
When you use your credit card, the bank fronts your spending out of their cash reserves - no new money is created.
gumby
on Aug 31, 2020
[–]
Though they were obtained at the discount window, as they are not circulating they have no impact on the functional money supply until you use them...at which point you still have that $20.
But I am engaging in some hair splitting, I admit.
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