The U.S. government has net spent $1.7 trillion (the "deficit") in fiscal year 2023, all of that through money creation.
— Dirk Ehnts (@DEhnts) June 7, 2024
How much money did the US banking system create in 2023?
Only $0.655 trillion.
Who says that "banks create 97 percent of the money"? pic.twitter.com/DNe1fgBEG3
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