Given I presented a full analysis of the National Accounts release yesterday, I am calling today Wednesday and not writing much by way of blog posting, to give me more time to write other things th…
You literally wouldn't be able to use any kind of fiat currency if it wasn't spent into existence before
This is especially clear during deficit spending. The monetary sovereign literally creates money out of nowhere.
If you think this is magic, then how do you think you type your comments?
There is no storage of alphanumerical characters I draw from to write this comment. It simply comes from "nowhere" when I hit a key.
Why do you keep saying "magic"?
It literally just describes the fiat money system
But this is the point
It's not IF
Whenever the sovereign spends money is created
You literally wouldn't be able to use any kind of fiat currency if it wasn't spent into existence before
This is especially clear during deficit spending. The monetary sovereign literally creates money out of nowhere.
If you think this is magic, then how do you think you type your comments? There is no storage of alphanumerical characters I draw from to write this comment. It simply comes from "nowhere" when I hit a key.