Everything you never wanted to know about economics but were forced to find out.
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The basics.
The truth about how money, banks and governments work. Currency Users and Currency Issuers You are a currency user. The government is the currency issuer. These are two VERY different things. Imagine the players and the umpire. The players cannot create points. The umpire creates and issues the points. Where do the umpire’s points come…
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Where does money come from?
All money is created as debt because that’s what money is. All “financial instruments” have an “asset” and a “liability”. Someone owns the asset and someone has the liability. The fact that someone “owes” you something is your asset and their liability. Gold, for example is not a “financial instrument”. It is a commodity with…
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Can’t we “pay off the debt?”
It mechanically can’t be done. Well, it can but there will be consequences. Take a dollar from your pocket. Look at it. That’s a dollar of the “national debt”. Getting rid of the debt means getting rid of all the money. Ah… not so big & clever now, eh? People (and I include myself 10…
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Are higher interest rates inflationary?
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What is the Job Guarantee?
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Globally Synchronised Recession
Its coming.
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Overt Monetary Finance
The government funding mechanism that dare not speak its name.
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QE… what even is it?
Exploring the three flavours of QE. QE is a term used for 3 different things: 1) Government purchases of bonds. No new money. 2) The central bank directly purchasing bonds from Treasury. New money. 3) Goverment “borrowing” longer dated bonds to dick with the yield curve. No new money. 2) Isn’t really QE, its OMF…
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The Chicago Plan
An idea whose time has come? The Austrian school (along with every other school) of economic thinking has been bowdlerised to remove the bits of thought neo-liberals don’t like but there’s plenty of sound logic there. “money is different” That’s the key idea behind the Chicago Plan. Money is the playing field. You can’t have…
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Tax havens, trusts & secrecy jurisdictions
How the other half live.
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Land Value Tax
And why we need it.
Got any book recommendations?