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Money: The Initial Definition Problem
Sunday, January 3, 2016 23:34
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Written by John Hemington
In explaining how fiat money works in Modern Monetary Theory it is typical to have government (fiat) money defined as debt of the government. And, while this may be technically correct in some ways, it is not totally correct and is confusing to many.
Source: http://econintersect.com/pages/contributors/contributor.php?post=201601032352
