A closed oscillatory circuit is a system with lumped parameters. In it, the inductance of the entire circuit is equal to the inductance of the coil, only the capacitor has capacity. Accordingly, the magnetic field exists only near the inductor, and the electric field exists between the plates of the capacitor, that is, the electric and magnetic fields are separated in space and time.
The fields are localized in the contour, the radiation of electromagnetic waves is very weak. Therefore, a closed oscillatory circuit cannot be used for radiation and registration of electromagnetic waves.
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