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This is me trying to synthesise and articulate things I have recently read and listened to…

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How money gets created and destroyed by governments:

The principles below apply to a gov’t with its own sovereign-currency-issuing central bank: the UK and the USA being examples.

Things are more complicated for the Eurozone where 20 of the European Union’s member states share a common central bank. And more complicated still for a country with high levels of foreign currency denominated debt