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This isn't meant to excuse deficits, youtube
Deficits by the monetary sovereign should be monster beats forum xbmc 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 monster beats forum xbmc sovereign overspends relative to taxation and the real beats studio download 007 game growth rate then only the monetary sovereign and its payees should suffer; i.e. the stealth inflation tax is abolished. beats studio download 007 game
*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 download 007 game 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 download 007 game.
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Real people act according to money as flow. We work contently when money flows in our direction and become distressed when disconnected monster beats us 441 georgia from the flow. Our macro problems are largely due to broken circuits of money flow, also known as corporations and assets, and monetary easing is a poor substitute for this broken surplus recycling.
The sooner economics becomes a science of graphs and flow, instead of scalar aggregates, the more relevant and useful it will be beats studio download 007 game.