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It's interesting to see Mosler quoted here, despite the fact that so much energy is expended trying to define something that Mosler defines very simply: Money
by dools 5y ago
It's interesting to see Mosler quoted here, despite the fact that so much energy is expended trying to define something that Mosler defines very simply:
Money is a tax credit.
Even commodity money is fiat, because without the stamp from the mint it cannot be used to pay taxes.
If you want proof of this, all you have to point to is the fact that coins minted in antiquity still exist, despite the fact that they were alloys.
Money is a tax credit, everything else is a commodity.
It's very simple.