Tag Archives: overt money financing

Overt money financing.Open DemocracyWhy the public debt should be treated as an asset John Weeks | Professor Emeritus, School of Oriental & African Studies, University of London, and author of 'Economics of the 1%: How mainstream economics serves the rich, obscures reality and distorts policy', Anthem Press

This not only adds to gold reserves but it also pumps rubles into the economy without "debt financing" or taxation to "balance the budget."Fort RussRussian Central Bank buys 100% of the gold mined in Russia Rusvesna - translated by Inessa Sinchougova

The crucial fact about the vertical side is that the fact that a nation is not like a household is evident regardless of the operational details. Positive Money is wrong in their belief the current system must be changed to achieve the type of government spending they want.However, this does not mean that Positive Money is flat out wrong. Key MMT people would be perfectly happy to spend vertically in the way Positive Money wants, which is just PQE/OMF by another name. This is especially so...

Must-read for anyone interested in MMT.Lars P. Syll’s BlogAbba Lerner and functional financeLars P. Syll | Professor, Malmo University

There was an article in the Financial Times last week (August 16, 2017) – Central banks hold a fifth of their governments’ debt – which seemed to think there was a “challenge” facing policymakers in “unwinding assets after decade of stimulus”. The article shows how central banks around the world have been buying huge quantities of government (and private) bonds and holding them on their balance sheets. Apparently, these asset holdings are likely to cause the banks headaches. I don’t see it...