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Still another benevolent sign of Bills would be physical limits of the economy constrain the quantity of Bills typically drawn; if capacity to refine more gasoline isn't available, then clearly no new gasoline Bills can be drawn. as no more gasoline can be delivered towards the retailer. No such constraint applies to Commercial Paper, or indeed to Fiat currency.

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Another factor between Bills and Commercial Paper becomes apparent whenever we examine household . picture. Real Bills reflect the value of goods actually sold in the market place; they are strictly consumer driven. In effect, the speed of circulating money is really a proxy for certain Bill advancement.

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