L. Randall Wray

We will go through the details of keeping track of stocks and flows in the money of account. That will also lead us into a discussion of the relation between “money” and “spending”—how do we “pay for” things?

Comments and responses on the Modern Money Primer Part 9.

The best kind of payment is an obligatory one—one that must be made to stay out of prison, or to avoid death by thirst. An obligatory payment that must be made in the sovereign’s own currency will guarantee a demand for that currency.

Comments and responses on the Modern Money Primer Part 8.

In short, to avoid the penalties imposed for non-payment of taxes (that could include prison), the taxpayer needs to get hold of the government’s currency.

Comments and responses on the Modern Money Primer Part 7.

This week, let us take a peek behind the currency. Is there anything there, other than the Fed Chairman’s—how shall we put it—family jewels?

Comments and responses on the Modern Money Primer Part 6.

Beginning with this blog we will begin to develop our theory of sovereign currency.

Comments and responses on the Modern Money Primer Part 5.