Yes. The amazing thing about this topic is how confidently otherwise intelligent people routinely spout utter bullshit about it. It's particularly ironic (but completely unsurprising) to see people flaunting their misconceptioms in response to an extremely clear explanation of how it actually works from one of the most authoritative sources possible.
Please, if you think you know something on this topic and haven't read this pdf, just try and forget what you think you know and read it.
(Of course, now somebody will explain to me why the Bank of England doesn't actually know how money creation works, or is deliberately lying about it for some reason, and on it goes.)
Please, if you think you know something on this topic and haven't read this pdf, just try and forget what you think you know and read it.
(Of course, now somebody will explain to me why the Bank of England doesn't actually know how money creation works, or is deliberately lying about it for some reason, and on it goes.)