Sometime in the next 24 hours we will be switching European Tribune over to a new layout. This will involve a little downtime and no doubt some teething troubles. Do not adjust your set. - Colman

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In a credit money system, you don't need to issue coinage in order to issue money. Most 'high-powered money' (created directly by the Central Banks) is not in the form of coinage. And most money is not high-powered money.

The national deficit is basically the State issuing money in excess of its revenues to mobilize resources.

I distribute. You re-distribute. He gives your hard-earned money to lazy scroungers. -- JakeS

by Migeru (migeru at eurotrib dot com) on Sun Jan 6th, 2013 at 06:49:11 PM EST
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