Currency is issued by central banks of various countries, and has no commercial function, and controls currency M0, M 1 and M2. In modern economy, only one bank in each country can print money, and that is the "central bank". The central bank is one of the most important institutions of the government. The central bank lends the printed money to "commercial banks", and commercial banks lend the money to enterprises or individuals to collect interest. The central bank will withdraw funds from commercial banks, burn some cash and print some new banknotes to maintain the ideal total amount of cash, that is, the amount of M0. Most loans are paid in large amounts by bills or electronic means, and there is no corresponding cash. The total amount will be much higher than that of M0, that is, narrow money M 1 and broad money M2. For example, checks and demand deposits are counted as M 1. M2 includes M 1, and there are also a large number of institutional deposits.

The inflation of a country and the international exchange value of its currency are determined by the country's actual economic capacity and the manipulation of M0, M 1 and M2 by the central bank. The central bank is not interested in making money, because money is printed by it and has no meaning to it. Its task is to make the national economy run smoothly, that is, to adjust inflation and currency value. When a country's economy grows, the central bank can enlarge the values of M0, M 1 and M2, but ordinary foreigners still think that your currency is the same as its original value. This kind of printing money and lending at no cost is the direct result of the government's economic development, which is equivalent to the "seigniorage", and the government can do whatever it wants with it. The China government has really made a fortune recently. The central bank's printing and lending is much faster than GDP growth, but there is still no inflation, and the RMB will appreciate. Chiang Kai-shek didn't have much money to start a civil war, so he went to war by printing M0 and engaging in M 1, which led to hyperinflation.

In order to prevent the central bank from printing banknotes indiscriminately, the government is generally required to have corresponding gold and silver, qualified bills, foreign exchange and securities. When printing money for issuance. However, this is very complicated. The actual operation is dynamic balance. How to control the changes of exchange rate and inflation is too professional. Usually, if the country can't adjust, the economic crisis will happen. The most direct explanation is that the country's central bank has failed, and some data have become very bad, but there is no way to stop it.

Before China's reform and opening up, there was only one bank in China: China People's Bank. Printing money is also it, and lending to individuals or units is also it. The central bank and commercial banks are carrying out a package plan. Anyway, it is a planned economy. Printing money is not for making money, but for making accounts convenient and not so complicated. Reform, so it won't work. 1984 "Four Commercial Banks" were established: China Bank, China Construction Bank, China Industrial and Commercial Bank and China Agricultural Bank. Theoretically, the commercial functions of the People's Bank of China were taken over, and the People's Bank of China was concentrated in the central bank. Theoretically, the four major banks should make profits independently, but in fact, they still take orders from the China municipal government, and their functions are unclear and chaotic, resulting in a lot of bad debts. Recently, the packaging is more modern and can be listed. How much profit can be calculated honorably every year. So we know that the four major banks will be listed one after another, but the People's Bank of China will not be listed (nor can it be packaged) because it is a central bank and a government agency.