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c In the United States, the debts of government and commercial banks are used as money. This statement acknowledges that Oraccounts in commercial banks are
c In the United States, the debts of government and commercial banks are used as money. This statement acknowledges that Oraccounts in commercial banks are customer deposits and thus are debts of commercial banks money is created by a lending process. O government finances its spending through debt. (0 many governments and commercial banks have debt
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