| http://www.w3.org/ns/prov#value | - When somebody buys a Treasury, that person's checking account is debited and their bank's reserve account at the Fed is debited in the amount of the purchase.The reserves balances are lower, but the buyer gets a Treasury.So far, so good.But here is the problem with the worry warts' arguments: Reserves are a monopoly of the state, i.e. of the government.
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