MMP Blog #52: Conclusion: The Nature of Money
Let us close this blog and this Primer with an examination of three propositions on the nature of money. This has been a long and difficult blog. You might need to read it twice. Or three times.
IOU
MMP Blog #17: Accounting for Real Versus Financial (or Nominal)
I had thought the distinction between real and financial (nominal) was clear—but obviously it was not.
MMP Blog #15: Clearing and the Pyramid of Liabilities
This week we examine bank clearing and the notion of a “pyramid” of liabilities with the government’s own IOUs at the top of that pyramid.
MMP Blog #14: IOUs Denominated in the National Currency: Government and Private
This week we return to our analysis of the operation of today’s monetary system, examining the denomination of IOUs in the state money of account.
