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Tag Archives: currency issuer

Steve Roth — Actually, Only Banks Print Money

Actually, not really. Only governments have "printing presses" and other attempts to "print money" are called counterfeiting. Steve Roth knows this, of course, so he must being using "printing money" in another sense. Banks don't have printing presses in the basement, literally or figuratively. Governments that issue their currencies as government liabilities do. Banks increase M1 money supply by adding assets as receivables to their balance sheets as receivables  and booking...

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Seth Sandronsky — Gov. Brown, Meet Mr. Keynes

Non-sequitur. Sandronsky criticizes Jerry Brown for being anti-Keynesian and then admits that US states don't have the same fiscal space as the general government. Why then does Gov. Brown ignore Keynes’ insights on government or state spending to spur the economy? One reason is that state governments are unable to run deficits in the way that Uncle Sam can. Another is that Gov. Brown is reserving state revenue to repay Wall St. creditors in a downturn. The state issues bonds that these...

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TASS — Russia underestimates new package of US sanctions — think tank

Ha ha. What former finance minister Alexey Kudrin thinks is a bug is actually a feature.Sanctions will result in Russia having to rely one its power as a sovereign currency issuer, which it should have been using from day one. According to ex-minister, the country will be forced to widen the use of the national currency in payments. "This sanctions story creates huge risks for transactions in more stable currencies. This will trigger the use of the ruble even if it turns out more...

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