An economics, investment, trading and policy blog with a focus on Modern Monetary Theory (MMT). We seek the truth, avoid the mainstream and are virulently anti-neoliberalism.
It's The People's MoneyThought experiment: Assume physical fiat no longer exists.Then whose money is it when only banks and other depository institutions may have account balances at the central bank, the only other form in which fiat exists?It'll be the People's Money only when all citizens, their businesses, local governments, etc. may have accounts at their central bank and not before.
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