Keith Evans
Oct 20, 2023

--

Banks "buy" cash all the time from Treasury. When they do, they must pay for that cash with reserves which they must have at the Fed. One form of money is extinguished and another form of money replaces it. This is also how Treasury bonds work and why quantitive easing isn't "money creation".

--

--

Keith Evans
Keith Evans

Written by Keith Evans

Meandering to a different drummer.

No responses yet