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If a bank uses reserve money to base its credit expansion on, and they daily borrow/loan reserves to other banks to make their reserve requirements, then the argument that they have increased reserves now due to Fed bank balance sheet increase and they are not loaning these reserves out is nonsense....
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“The curious task of economics is to demonstrate to men how little they really know about what they imagine they can design.” Friedrich Hayek The economic programs and policies currently in place are truly astounding. I don’t think I have ever seen a more harmful economic environment...