Welcome to European Tribune. It's gone a bit quiet around here these days, but it's still going.
Display:
Cash is a part of the consolidated government debt.

Or, to put it in another way: Government bonds are a part of the money supply.

With a properly run central bank, cash and government bonds held by own residents contribute precisely equally to society's gearing: Not at all. (Foreign government bonds are different.)

- Jake

Friends come and go. Enemies accumulate.

by JakeS (JangoSierra 'at' gmail 'dot' com) on Wed Dec 14th, 2011 at 11:26:17 AM EST
[ Parent ]

Others have rated this comment as follows:

Migeru 4

Display:

Top Diaries

Impeachment gets real

by ARGeezer - Jan 17
11 comments

A Final Warning

by Oui - Jan 10
104 comments

Environment Anarchists

by Oui - Jan 13
4 comments

More Spanish repression

by IdiotSavant - Jan 6
8 comments

Occasional Series