3 ms·

Positive Money has published books on how the banking system works in real life, not how it is portrayed in textbooks. https://positivemoney.org/publications/

• notahacker 4y ago
  With the significant caveat that Positive Money is actively campaigning for a completely different system [of dubious merit].
  • andrepd 4y ago
    I see nothing dubious about putting the money printing machine to work on New Deal-type infrastructure and public works projects, green energy, etc., rather than using it to pump up asset prices and effectively direct transfer money to the very richer.
    • notahacker 4y ago
      You don't see anything dubious about campaigners selling a wide range of policy options based on reheated monetarism as economic panacea with a progressive slant because banks bad? You can have New Deal type infrastructure and public works projects in the existing system, or the government pumping asset prices by far more directly transferring money to the rich in a full-reserve banking "Positive Money" system. The only thing guaranteed by "positive money" is that it makes the supply of money a centralised political decision rather than a decentralised supply and demand based one, and makes retail banking even less friendly to the average person.
      • heurisko 4y ago
        A rebuttal that it is monetarism is here: https://positivemoney.org/2014/08/sovereign-money-system-monetarism/ https://positivemoney.org/2014/08/sovereign-money-system-mon...