Sunday, February 8, 2009

Credit money versus fiat money

The long post below is an excellent essay on a different way to look at our economy. It isn't really based on fiat currency, it is based on credit money. The banks control it and the Fed doesn't have all that much power. It makes sense to me.

http://www.nakedcapitalism.com/2009/02/steve-keen-roving-cavaliers-of-credit.html

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