Month: November 2016

What role should money and markets play in a good society?

There has been talk that money and markets have been getting in the way of a good society. So people say that people may be better off without money altogether. Some of these ideas are surly based in truth, but the question is how many of these problems are caused by the current financial regulatory … Continue reading What role should money and markets play in a good society?

Central Banking is a Soviet Ideal

​Wall St's beginning was wealthy people lending to the government to fund war campaigns. This lending in the for of bonds has thousands of years of tradition.  It isn't difficult to understand today that a standard measure of value like the Dollar   doesn't have to be centrally controlled. There was a time when a … Continue reading Central Banking is a Soviet Ideal

Quick Recap

I was saying that banks create the money stock when they buy government bonds. That money stock is destroyed when bond principal and interest is paid. The government spends the newly created borrowed money how the few in Congress guess is best for the collective. Then they income tax the productively of the collective to … Continue reading Quick Recap