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“In the beginning, man said, let there be money: and there was money,” US researcher Scott Santens wrote in a recent article. Later, in the wake of a pandemic, the US passed three stimulus packages worth $4.8-trillion. Within a year, cash of $1-trillion was sent to 85% of Americans.

“We didn’t pay for any of this. We just did it. None of it was made possible by taxing or borrowing from anyone first, and that’s the big lesson I believe everyone needs to take away from the Covid-19 pandemic. Americans needed money, so it was created out of nothing. The thing is, that’s not new. It’s how money works in any country that issues its own currency,” Santens wrote...

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