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It's logically impossible for a government to borrow the currency it issues. What we refer to as borrowing is just swapping one government liability (reserve ba
by dools 2y ago
It's logically impossible for a government to borrow the currency it issues. What we refer to as borrowing is just swapping one government liability (reserve balances) for another (treasury bonds).
- exe34 2y agoyou don't borrow from the present, you borrow from the future and hope to pay it back with growth