Tom
Doug Henwood wrote:
> Enrique Diaz-Alvarez wrote:
>
> >In any case, it seems to me that the difference between creating money and
> >creating money in $250 increments only is a fairly minor detail, don't you
> >think?
>
> How do MM funds create money? You deposit $1,000, the fund buys
> commercial paper and CDs and T-bills. The issuers of those
> instruments either invest it in real activity or re-lend it to
> someone who might. Where's the ex nihilo part?
>
> Doug