Excellent thread

https://twitter.com/LT3000Lyall/status/1637291871839072256

If you don't know LT3000, this March 17, 2020 blog post was extremely contrarian at the time.

https://lt3000.blogspot.com/2020/03/coronapocalypse-some-thoughts.html

Isn’t deposit money “fictional”. Eg bank a takes my money and lends 80% of it, then the borrower deposits in their bank etc so my $1 deposited is like $5 (probably have the math wrong). If money includes the multiplied money, and people withdraw to their mattresses, doesn’t that contract the money supply?

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