What Makes Them So Special?
Why is it that banks can create money out of thin air but I can’t?
Tag: fiat currency
For All Debts, Public and Private
As a young man with few dollars, I used to spend some time admiring the engraving on those few I had. I’ve long been struck by the phrase printed on Feder...
Economic Stimulus Package: No Taxes
The bank just sent a summary statement of the escrow account we use to pay the local and school property taxes. One achieves a certain distance from the taxatio...
Pirate Gold
The Somali pirates who have been very active in recent months have been asking for dollars, not gold. Moneychangers offer wads of new US dollar notes, the only ...
Two Sets of Rules
I think my major problem with Mosler’s theories is that there are two sets of rules. The second set only applies to the the issuer of the fiat currency. I...
It’s Good to Be the King
I’ve been slowly reading Warren Mosler‘s theories since Zimran Ahmed pointed them out a few weeks ago. They are, to say the least, non-intuitive. Fr...
The $306 Trillion Bailout Plan
A couple of weeks ago, Zimran Ahmed tossed out the suggestion that the Federal government send $1 million to each person in the U.S. (Though he said “ever...