It seems to me that the current "controls" on money printing are working well enough. We have a fiat currency and therefore we can print as much as we like, but Zimbabwe showed what can go wrong. #coronavirus #ClimateAction #ForNature
Provided it is used sparingly, for crises, it is a viable lifeboat.
I believe that, for an "act of God" crisis, such as our present pandemic, there are no moral turpitude issues and therefore we should print whatever it takes to get us through.
I believe that, for an "act of God" crisis, such as our present pandemic, there are no moral turpitude issues and therefore we should print whatever it takes to get us through.
The American Fed has already printed $4 trillion. I also believe that when the pandemic is properly over we should - with international agreement - write-off this extra debt as if the pandemic never existed: a bad-bank would be a suitable way forward.#UniversalBasicIncome
'Seigniorage' is the difference between the value of money and the cost to produce and distribute it. If you are a bank and allowed to create money out of nothing then lend it out at interest it should be possible to make a profit.
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