3 ms·
A clarification: IOUs are not money, bank deposits are. The money supply is the money issued by the central bank (aka monetary base) plus bank deposits. https
by lottin 5y ago
A clarification: IOUs are not money, bank deposits are. The money supply is the money issued by the central bank (aka monetary base) plus bank deposits.
https://en.wikipedia.org/wiki/Monetary_base https://en.wikipedia.org/wiki/Monetary_base