by Here’s a comment I wrote and posted several years ago. I’d like to add that I also see the Transition Job policy, along with a 0 rate policy, as what I call the ‘base case for analysis’ of a state currency: “With ‘state currency’There necessarily is,Always has been,Always will be,A buffer stock policy.Call that the MMT insight if you wish. So it comes down to ‘pick one’-1. Gold2. Foreign Exchange3. Unemployment4. Employed/JG/ELR5. WheatWhatever!I pick employed/JG/ELRAs it works best as a buffer stock based on any/all criteria for a buffer stock.”
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WARREN MOSLER considers the following as important: MMT
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Here’s a comment I wrote and posted several years ago. I’d like to add that I also see the Transition Job policy, along with a 0 rate policy, as what I call the ‘base case for analysis’ of a state currency:
“With ‘state currency’
There necessarily is,
Always has been,
Always will be,
A buffer stock policy.
Call that the MMT insight if you wish.So it comes down to ‘pick one’-
1. Gold
2. Foreign Exchange
3. Unemployment
4. Employed/JG/ELR
5. Wheat
Whatever!
I pick employed/JG/ELR
As it works best as a buffer stock based on any/all criteria for a buffer stock.”