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A central bank in the alternative fantasy universe of neoliberal belief.

It seems highly likely that there is some artifice by which the functional equivalent of an overdraft facility can be provided ... after all, when a government "borrows" to "finance" deficit spending, it is "borrowing" purchasing power brought into being by that deficit spending ... so someone who knows how the economy actually works may indeed be able to work out an instrument that follows the rules of the neoliberal fantasy while in fact relying on the actual working of a reserve banking chartalist money system in the real morning.

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 Thu Apr 15th, 2010 at 12:23:25 PM EST
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