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Modern Money Theory: A Primer on Macroeconomics for Sovereign Monetary Systems, by L. Randall Wray

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However, it now holds a claim on the Treasury (bonds) instead of a claim on the central bank (reserves),
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Modern Money Theory: A Primer on Macroeconomics for Sovereign Monetary Systems
Modern Money Theory: A Primer on Macroeconomics for Sovereign Monetary Systems
by L. Randall Wray
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