Heterodox
Richard Werner gives a talk below on “Strategic QE: Money Creation for Sustainable Investment” at the EU Parliament:[embedded content]A minor point: I don’t think it is correct to say that the banks, when they create a new loan, record their liability as a “fictitious deposit.” Instead, the new demand deposit is technically and legally an IOU or promise to pay, but also a type of credit money, so that new demand deposits expand the broad money supply.I don’t accept Werner’s “quantity theory...
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