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This isn't meant to excuse deficits, youtube
Deficits by the monetary sovereign should be beats studio ebay home the norm, not the exception. Otoh, fiat should only be legal tender* for government debts, not private ones. That should optimize the fiat creation rate since if the monetary beats studio ebay home sovereign overspends relative to taxation and the real beats studio goldwave old growth rate then only the monetary sovereign and its payees should suffer; i.e. the stealth inflation tax is abolished. beats studio goldwave old
*But voluntarily useable for private debts too.
I put the "not" in the wrong place. I meant to say that a deficit in the public sector is defined as "going into debt" while a deficit in the household sector is defined as "not paying debt obligations when the payments come due" .
beats studio goldwave old Banks may no longer create new money with that insignia. If they want to make loans they must either transfer savings of her existing money or create their own money and honour it themselves. Mary Mellor
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The separation of State and private money creation was implied nearly 2000 years in Matthew 22:16-22 ("Render to Caesar..." ). It's too bad we have not yet learned that lesson or if we ever knew it to have forgotten it. Such is the price of Biblical ignorance beats studio goldwave old.
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The sooner economics becomes a science of graphs and flow, instead of scalar aggregates, the more relevant and useful it will be beats studio goldwave old.