Footnote: beyond the loss of confidence, we would have the obvious transfer from restricted reserves, mandated to be incapable of generating credit, to fresh cash ready to expand.
Hi nostr:npub1a2cww4kn9wqte4ry70vyfwqyqvpswksna27rtxd8vty6c74era8sdcw83a, if the introduction of new payment computers could theoretically expand the monetary base at a rate that offsets quantitative tightening (QT), then in a vaccum the 'money multiplier' might remain unchanged. In other words, if this happens, no cash would be retired—it would simply require an infinite amount of trust no one is taking advantage, right?
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