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Ask yourself, does a currency-issuing government ever need to borrow its own currency from anyone? And if it chooses to offer bonds in exchange for some of its own previously-issued currency, is it really “borrowing” in any meaningful sense of the word?
https://stephaniekelton.substack.com/p/these-are-the-times-that-try-mens
@johnverdon It's a mystery. (It's not.)