The bank of England has some incredible articles that explain this that have been circulated on HN before. Really fantastic reading for those wanting to underst

The bank of England has some incredible articles that explain this that have been circulated on HN before. Really fantastic reading for those wanting to understand the mechanics. https://www.bankofengland.co.uk/quarterly-bulletin/2014/q1/money-creation-in-the-modern-economy https://www.bankofengland.co.uk/quarterly-bulletin/2014/q1/m...