Central banks don’t “supply” dollars to cities, states and nations, rather dollars are an automatic effect of production in cities, states and nations. Contrary to what most economists believe, central banks don’t need to concentrate on managing so-called “money supply,” nor could they manage what is a market phenomenon in the first place.
Money in circulation is production determined, which means wherever there’s production there is trusted money circulating as though placed there by an “invisible hand.” See Syria at present.
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