Not exact matches
Even the alleged «monetary
contraction» never took place, the
money supply increasing by 2.7 percent per year
in this period.
Deflation is a
contraction in the
supply of circulated
money within an economy, and therefore the opposite of inflation.
At some point, you or someone else had to withdraw it from the banking system, which caused a multiplied
contraction in the total
money supply because currency counts as reserves.