Daniel Lakeland@dlakelan@mastodon.sdf.org
@GhostOnTheHalfShell@masto.ai @SmithWillSuffice@climatejustice.social
Right, but that can't even be close to true, M2 is only 60% of public debt. So that means probably there's a bunch of overseas dollars because it doesn't even exceed the public debt. for 90% of money to be commercially created, the M2/debt would have to be something like 9 or 10 not 0.6
GhostOnTheHalfShell@GhostOnTheHalfShell@masto.ai
@dlakelan@mastodon.sdf.org @SmithWillSuffice@climatejustice.social
Yeah, like I said, I my eyes sort of likes twitch when I saw that number and I said is this right?.. but your own points bring up an interesting question. Banks do create the principal amount and stuff it into the economy. The total outstanding amount is a function of the total outstanding principle left percolating in economy, or it should be.
.. so the other part would probably be purchased treasuries?
