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This isn't meant to excuse deficits, youtube
Deficits by the monetary sovereign should be beats studio $99 yunnan 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 $99 yunnan sovereign overspends relative to taxation and the real buy beats by dre iphone 5 case growth rate then only the monetary sovereign and its payees should suffer; i.e. the stealth inflation tax is abolished. buy beats by dre iphone 5 case
*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" .
buy beats by dre iphone 5 case 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 buy beats by dre iphone 5 case.
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One could further emphasise money as flow vs.beats studio manual 63-1089 money as quantity. Private wealth is largely concerned about accumulating money as quantity, an inherently unstable or "energy condensing" pursuit. The stock market values companies according to their ability to push money uphill to investors strongmonster beats by dre justbeats solo for justin bieber and out of the real economy.
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