Jess Taylor
Jul 25, 2017 · 1 min read

Maybe worth noting that only a small fraction (on a given day, it varies from 3–6%) of the “supply” of US dollars takes the form of paper currency and coin issued by the US government. Most of the money we use is balance sheet and digital money, conjured up in credit/debt juggling by banks. The proliferation of this bank-created money is a much more important factor in the relation of the economy to finance than the hard-copy/analog government-issued currency.

    Jess Taylor

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