Randy Wray: American Colonial Currency (Debt Free Money, Part 4)
The American Colonial experience with note issue is consistent with what MMT has been saying for the past quarter century.
Read more...The American Colonial experience with note issue is consistent with what MMT has been saying for the past quarter century.
Read more...Astonishingly, Neel Kashkari really might mean a fair bit of his bold financial services industry reform talk.
Read more...Is “crash” the right word to describe the Mr. Market’s rattled nerves?
Read more...The post studies how the Fed is involved in fiscal operations and how the U.S. Treasury is involved in monetary-policy operations. The extensive interaction between these two branches of the U.S. government is necessary for fiscal and monetary policies to work properly.
Read more...In The Age of Stagnation, author Satyajit Das has shifted from his usual wry detachment to a sense of foreboding.
Read more...Why Eurobanks are the most likely fracture point if current economic stresses continue.
Read more...Former Bank of International Settlements chief economist William White criticizes central bank policies sharply, particularly negative interest rates.
Read more...A very readable, information-rich post on what the Fed does and does not do, with emphasis on the nitty-gritty of monetary policy. If you are time-pressed, read the last item in the FAQ first, which is a terse item-by-item debunking of widely made, inaccurate statements about the Fed.
Read more...Bad loans are not the only reason to worry about banks. ZIRP and negative interest rates will bleed them to death, and Eurobanks are at real risk of bank runs.
Read more...Positive Money boosters have failed to consider (or perhaps have failed to publicize) is that it would necessitate draconian controls to prevent the creation of private credit.
Read more...An introduction to Michael Hudson and his latest book.
Read more...A new story at the New York Times on the global debt overhang is an economically warped account that omits important policy options.
Read more...Central counterparties, also known as central clearinghouses, were supposed to reduce systemic risk. That story is not playing out according to its script.
Read more...How does the Fed control interest rates? A primer.
Read more...How and why central bankers and conservative economists created the bogus “fractional reserve” and “debt intermediation” theories of banking.
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