Richard Jakubowski @rjeconomics1
Richard Jakubowski(e)k Bertxiotua Deficit Owls
To many, this fact is incomprehensive
The Treasury’s account at the Federal Reserve is not part of the money supply. By definition, taxes destroy $$s and spending creates them.
2017 urt. 29
@DeficitOwls If you don’t believe that, look up the various definitions of the money supply. They exclude the Treasury General Account (TGA)2
Gehigarria:
Real Progressives LIVE with L Randall Wray – MMT and Debunking AMI: Positive Money 3
2 Ikus Treasury General Account Definition | Investopedia: DEFINITION of ‘Treasury General Account’
The general checking account used by the Department of the Treasury. The Treasury General Account is held at the Federal Reserve Bank of New York. All official payments of the U.S. government are made from this account.
