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Can you give an example? You could see it being true temporarily just due to lack of any alternative. In any event, the parents take on 2 is not exactly correc
by alangibson 5y ago
Can you give an example? You could see it being true temporarily just due to lack of any alternative.
In any event, the parents take on 2 is not exactly correct. MMT people say that a primary source of demand for a currency is that taxes may only be paid in that currency. Governments spend money into existence and tax it out of existence.
- dllthomas 5y agoI believe the Somali shilling was the case I first heard of. There seems to have been a case in Iraq in the 90s as well with the "Swiss dinar". > [...] a primary source of demand [...] That indeed sounds much more plausible.