Le Baron
Unbiased advice at reasonable rates
Just to address that directly above. Money transactions don't 'stabilise' the money supply. The idea of 'stabilising' or limiting or controlling the money supply' is a fiction. The BOE and the govt has no real control over supply levels (though it does have power of its issue/destruction. Read well, that is not a contradiction). Money supply control is a monetarist tenet, ideological. It is behind all of the current misconceptions of how monetary operations work and the reason they kept on all the charade of gilt sales 'debt'.
There's something further up about MMT placing government at the centre of the economy with emphasised power. It's not MMT doing that, in a sovereign monetary system it is just a fact. The question seems pointless. If you decide to have some other authority issuing a money of account, then that authority has monetary/fiscal control. MMT is describing it, not prescribing it. An idea that somehow you 'deregulate' the money system is nonsensical.
Let's also make a distinction between money used by users as economic actors (and all its transactions) and government as an issue-by-spending entity. There's no debate that spending on social goods by government is for the most part discretionary. I say 'most part' because obviously there is the question of resources that can be mobilised and their natural limit. However since that is not even in question, it is a question of will and priorities, not a financial question. Sovereign governments don't have 'financial concerns'.
Nice to see the seed has grown.
There's something further up about MMT placing government at the centre of the economy with emphasised power. It's not MMT doing that, in a sovereign monetary system it is just a fact. The question seems pointless. If you decide to have some other authority issuing a money of account, then that authority has monetary/fiscal control. MMT is describing it, not prescribing it. An idea that somehow you 'deregulate' the money system is nonsensical.
Let's also make a distinction between money used by users as economic actors (and all its transactions) and government as an issue-by-spending entity. There's no debate that spending on social goods by government is for the most part discretionary. I say 'most part' because obviously there is the question of resources that can be mobilised and their natural limit. However since that is not even in question, it is a question of will and priorities, not a financial question. Sovereign governments don't have 'financial concerns'.
Nice to see the seed has grown.