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Very true! I'm just trying to explain that there is a distinction between central banks and commercial banks, objecting to the statement `The central bank "prin
by comicjk 7y ago
Very true! I'm just trying to explain that there is a distinction between central banks and commercial banks, objecting to the statement `The central bank "prints" a lot [of] money, but so do private banks.`
I think that the difference is important, because if one believes that a commercial bank can print fiat money the way a central bank does, then the idea of a bank run or bank collapse looks incomprehensible.