Continuing the analogy: Those coins used to be pure precious metals but whenever...

		bitxbitxbitcoin on Jan 19, 2021 \| parent \| context \| favorite \| on: Money Creation: 70% in the Last 12mo (Fed, M1, $) Continuing the analogy: Those coins used to be pure precious metals but whenever a king needed to coin more moneys than precious metals he could afford, he would engage in "money creation" by turning up the percentage of some non-precious metal. Same strategy, different execution.