Now, unless all the successive loans were deposited at the same bank, it cannot be said that any one bank got to multiply its initial high powered money reserve almost 90 times by issuing bank credit out of nothing. However, the banking system is a closed loop.
Ahora, a menos que la totalidad de prestamos sucesivos sean dopositados en un solo banco, no se podra demostrar que el banco a multiplicado su deposito inicial casi 90 veces a traves de la expedicion de credito bancario de la nada.