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BruceMcF:
perhaps we need to find ways to express things that do not pander to common misconceptions about money.
How do we do this?

We have met the enemy, and he is us — Pogo
by Migeru (migeru at eurotrib dot com) on Wed Feb 27th, 2008 at 05:59:26 PM EST
[ Parent ]
In this case, simplify to the normal money ... bank accounts ... and say it in terms of that bank-credit money from the liability side of the financial institutions ...

So in this case, instead of

In effect, he created a lot of money,
... "He encouraged the system to create a lot of money"

... and instead of

most of the money was not real, but it was as real as existing money

"However, most of the money was not backed by real wealth, but by financial fantasy."


I've been accused of being a Marxist, yet while Harpo's my favourite, it's Groucho I'm always quoting. Odd, that.

by BruceMcF (agila61 at netscape dot net) on Wed Feb 27th, 2008 at 06:17:22 PM EST
[ Parent ]

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