Just pay attention to the fundamental fraudulent flaw that I, for one, see as a Ponzi scheme:
1. the virtual money is created by the commercial banks, thru this scheme
2. this is of course in addition to traditional usury via interests
3. central banks (e.g., the Fed) are supposed to protect the system from collapsing if too much withdrawals, but they only add to the moral hazard since soon or late they end up doomed to inflate the actual money supply...
4. from 3) the currency is debased/destroyed
5. from 3) also the cronies pockets are filled...
6. the entire thing on the money multiplier, etc, formulas is just an excuse to justify with dumb math that it makes sense... and indeed, it does:
it explains in plain view the legal fraud that Keynesians brag about.
"Cyril" pronounced "see real". I code stuff.
"To study and not think is a waste. To think and not study is dangerous." -- Confucius