他们有可能决定将钱放在床垫下或烧掉它，但通常情况下，这笔钱要么花在银行里，要么存入银行。如果每个出售债券的投资者都把钱存入银行，那么银行存款最初将增加200亿美元。他们中的一些人可能会花钱。当他们花钱时，他们实际上是将钱转移给其他人。那个“别人”现在要么将钱存入银行，要么花钱。最终，所有这200亿美元都将存入银行。因此，银行结余增加了200亿美元。如果准备金率为20％，那么银行需要保留40亿美元。他们可以贷出的其他160亿美元。银行贷款160亿美元会发生什么？好吧，它要么被放回银行，要么被花掉。但和以前一样，最终，这笔钱必须找回银行。因此，银行结余再增加160亿美元。由于准备金率为20％，银行必须保持32亿美元（160亿美元的20％）。这留下了128亿美元的贷款余额。请注意，128亿美元是160亿美元的80％，160亿美元是200亿美元的80％。在周期的第一阶段，银行可以贷出200亿美元的80％，在周期的第二阶段，银行可以贷出200亿美元80％的80％，依此类推。
澳大利亚昆士兰大学经济论文代写：出售债券
They may decide to put the money under the mattress or burn it, but usually the money is either spent in the bank or deposited in the bank. If every investor who sells bonds deposits money into the bank, then bank deposits will initially increase by $20 billion. Some of them may spend money. When they spend money, they actually transfer money to others. The “other” now either deposits money in the bank or spends money. In the end, all of this $20 billion will be deposited in the bank. As a result, the bank balance has increased by $20 billion. If the reserve ratio is 20%, then the bank needs to retain $4 billion. The other $16 billion they can lend. What happens to bank loans of $16 billion? Ok, it is either put back in the bank or it is spent. But as before, in the end, the money must be recovered back to the bank. As a result, the bank balance has increased by another $16 billion. With a reserve ratio of 20%, banks must maintain $3.2 billion (20% of $16 billion). This left a loan balance of $12.8 billion. Please note that $12.8 billion is 80% of $16 billion and $16 billion is 80% of $20 billion. In the first phase of the cycle, banks can lend 80% of the $20 billion. In the second phase of the cycle, banks can lend $20 billion to 80% of 80%, and so on.