News for hackers. Stuff that matters.
Re:China lets yuan break 7-per-dollar level for first time i... by kccqzy on Monday August 05, 2019 @10:21AM (#20614408)
The vast majority of the money in circulation is not created by central banks but by commercial banks making loans.
Re:China lets yuan break 7-per-dollar level for first time i... by comicjk on Monday August 05, 2019 @10:36AM (#20614541)
Very true! I'm just trying to explain that there is a distinction between central banks and commercial banks, objecting to the statement `The central bank "prints" a lot [of] money, but so do private banks.`

I think that the difference is important, because if one believes that a commercial bank can print fiat money the way a central bank does, then the idea of a bank run or bank collapse looks incomprehensible.