Isn't it sort of like virtual memory? Each process (consumer) has the illusion that all of its memory pages (dollars) are in RAM (backed by specie), but since

Isn't it sort of like virtual memory? Each process (consumer) has the illusion that all of its memory pages (dollars) are in RAM (backed by specie), but since it isn't actually using all of those pages at once, the OS (Federal Reserve) can swap some of them out to disk (print more money).