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I mean...

nytimes.com/2020/04/15/bus…
@StephanieKelton - preach!
Never thought i'd see the day when Fed-Tsy remittance policy gets multiple paragraphs in the NYTimes...
Ja-pan! Ja-pan! Ja-pan!
Some people want to understand the world better in order to make money.

Others want to understand the world better in order to improve it.

🤷
That creaking sound you're hearing?

That's a massive, global paradigm shift in one of the most conservative and slow-moving disciplines on the social sciences.

#MMT
You know who (as usual) was ahead of the curve on this?

@RashidaTlaib, with the #ABCAct proposal to #MintTheCoin.

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#MMT #ABCAct #MintTheCoin

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Rohan Grey
@rohangrey
***BREAKING***

I am thrilled to announce that the full legislative text of the #ABCAct bill to #MintTheCoin is now public:

tlaib.house.gov/sites/tlaib.ho…

More details are available in the press release here:

tlaib.house.gov/media/press-re… ImageImageImage
I'll discuss details below, but 1st, a huge shout out to @RepRashida (@RashidaTlaib) & her brilliant staff for their vision, courage & leadership.

It's been thrilling to watch the bill take form, and I look forward to it being passed into law & providing urgent relief to all.
Special thanks to @PramilaJayapal, as well as @RepChuyGarcia, @RepHastingsFL, @EleanorNorton, @AOC, @IlhanMN, @AyannaPressley, @RepBobbyRush, @janschakowsky, & @NydiaVelazquez, for cosponsoring the bill.

Solidarity between progressive leaders is a beautiful thing to see.
Read 21 tweets
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Rohan Grey
@rohangrey
1. Here's @RashidaTlaib in July last year asking the Fed to commit to buying state/local government debt in a recession.

nymag.com/intelligencer/…
2. Here's the WSJ on the Fed's new state/muni debt buying facility today:

wsj.com/articles/fed-a…
3. Here's @RashidaTlaib on March 21 proposing that the Treasury sidestep the bond market and use Overt Monetary Financing to conduct fiscal policy:

Read 6 tweets
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Rohan Grey
@rohangrey
"The appropriate degree of anonymity in a CBDC system is a political and social question, rather than a narrow technical question. As discussed above, CBDC would need to be compliant with AML regulations, which rules out truly anonymous payments."

bankofengland.co.uk/-/media/boe/fi…
I find it extremely depressing just how consistent this line of thinking is in CBDC discourse.

Existing money-laundering and counter-terrorism laws are not some higher-order political and social commitment that must be genuflected towards and kept inviolate prior to any debate
over the future of digital fiat currency. To the contrary, they are merely one set of political and social considerations that can and should be weighed against others, for example the broader societal implications of transitioning to a purely (or nearly-comprehensively) digital
Read 14 tweets

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