Yes, parroting stuff.
All economics is chock full with “all other things being equal” talk, which they never are.
Examine these LAWS. The price will rise if supply reduces (all other things being equal — what is a thing btw).
Well, if supply reduces to zero, what is price then? What is the price of goods if there are no transactions? And note there will be no transactions if scarcity exists — which means supply is zero.
It’s not physics. These are not real Laws of Nature. They are all based in imagination. The money supply is largely whimsical.
Think for a moment, think of all the apocalypse scenarios you have heard of. How much talk was there of money in World War Z? How did British navy ships with damage in the Dutch East Indies get repaired? Who paid those shipyards? (the answer is a promise by a captain, in writing, that the King would pay) and what was the money supply then? For the Dutch or the British?
This is all made up stuff. Just like money itself. It comes from nothing, created by central banks. How can anything created from nothingness be expected to have Laws of Nature apply to them.
Your misunderstanding of economics is breath-taking.
I don’t even know where to start.
You need to read Von Mises “Human Action” from start of finish.
Every word.