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The Basics of Modern Money

submitted by radx

7 years 5 months 3 weeks ago

2 Comments

radx

says...

Related:
Bank of England: Money creation in the modern economy
Bank of England: Banks are not intermediaries of loanable funds — and why this matters
Deutsche Bundesbank: How money is created
Deutsche Bundesbank: The Role of Banks, Non-Banks and the Central Bank in the Money-Creation Process (German only, remove the automatically added space near the end of the link)

I intentionally did not list any of the UMKC material nor any of Mosler's work, because people seem to ignore this stuff unless it comes from people/institutions they consider to be authorities in the field. Ergo two of the most important central banks.

Or if you prefer a short video, here's Greenspan taking Paul Ryan to school: There is nothing to prevent the government from creating as much money as it wants and paying it to somebody."