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The first sentence of that document makes reference to money creation happening by commercial banks making loans. It then goes on to explain much of the detail.
by hgomersall 3y ago
The first sentence of that document makes reference to money creation happening by commercial banks making loans. It then goes on to explain much of the detail. The document is all about commercial banking.
Central banks operate exactly the same way as commercial banks, just the money they create flows in a different circuit.