I don't believe that is correct JD. Banks can create money. To illustrate, A deposits $100 in a bank. By law the bank has to keep (i think 5% or thereabouts) in cash or RBA deposits. The other $95 they can lend out, say to B. B buys $95 of shares from C. If C puts the $95 from his share sale in the bank then the bank can do a rinse and repeat, lending out 95% of the $95 and so on
I don't believe that is correct JD. Banks can create money. To...
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