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Discuss what role banks play in the money creation process.
Formal Procedures
Established methods and protocols prescribed by an organization or system, often legal or governmental, for carrying out activities or resolving disputes.
Formally Approved
Officially sanctioned or authorized by a recognized authority.
Illegitimate Children
Children born to parents not legally married to each other, affecting their legal rights and status in some jurisdictions.
Inherit
To receive assets or liabilities left by a deceased person through their will or by statutory rights.
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