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.@M_C_Klein and @martinwolf_ don't understand what's wrong with Vollgeld and related proposals, because they aren't working with a good model of money. 
The claim is that the financial system "unnecessarily" and "by accident" links essential public services to private risk-taking. That's a strong claim. And it's wrong.
Modern economic growth was born with the modern financial system and the cradle was 1750 to 1875 Britain. This is simple fact.
