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That moment when you realize a widely-respected, billionaire hedge-fund manager (@RayDalio) writing a book on the subject of "money" and #credebt, appears to have no idea what "money" is...
#Quanta
linkedin.com/pulse/money-cr…
#Quanta
linkedin.com/pulse/money-cr…
This reminds me of that embarrassing exchange whereupon faux "nobel"-prize winning economist @paulkrugman (vs. @ProfSteveKeen) revealed his errant belief that the private commercial banking system comprised "intermediaries" of loanable funds.
LOL!
opendemocracy.net/en/opendemocra…
LOL!
opendemocracy.net/en/opendemocra…
C/
While it will be clear to some readers @RayDalio is referring to US Gov Debt Obligations when writing of the Reserve "Currency" holdings of foreign Govs. But he does a disservice to most by perpetuating the myth of "money" printing foisted on us by the private bank Cartel...
While it will be clear to some readers @RayDalio is referring to US Gov Debt Obligations when writing of the Reserve "Currency" holdings of foreign Govs. But he does a disservice to most by perpetuating the myth of "money" printing foisted on us by the private bank Cartel...
