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Bitcoin’s Path to Money: Menger’s Theory and the Debate on Medium of Exchange vs. Store of Value
13.9.2023
Over the past ten years, fervent supporters of digital currency have engaged in intense debates: Is bitcoin (BTC) designed as peer-to-peer electronic cash as illustrated in Satoshi’s groundbreaking white paper, or does it serve as a digital store of value, similar to gold? Additionally,...
Biden Aides Explore Minting $1 Trillion Platinum Coin as Solution to Impending Debt Default
4.5.2023
As the United States stares down the barrel of a potential debt default come June, a curious and intriguing solution has emerged: crafting a single $1 trillion platinum coin. This unusual tactic exploits a legal loophole that allows the Treasury Department to mint platinum coins of any value....
US Lawmakers Float the Idea of Minting a Trillion-Dollar Platinum Coin to Avoid Sovereign Debt Crisis
6.10.2021
American politicians have been clamoring about the U.S. facing a significant debt crisis and the debt ceiling putting the country at risk of default. Joe Biden spoke about the debt ceiling and told Republicans to “just get out of the way” when it comes to the decision. Meanwhile,...
Why Emerging Markets Are Wary of Modern Monetary Theory
8.11.2020
While MMT may be the de facto policy of rich Western governments, applying it to developing economies could be disastrous
On quantitative easing, crypto and modern monetary theory
31.8.2020
Crypto needs financial products — simply positioned and simply transparent — to preserve and grow people’s assets in difficult times
Modern Monetary Theory Is Too Good To Be True
3.7.2020
The Australian government is planning to spend AUD 190 billion (USD 132 billion) to support the economy in response to COVID-19, according to the latest Parliamentary Budget Office estimate.
The total impact of COVID-19 on the government’s net debt, including both revenue impacts (down, because...
Bitcoin vs. Modern Monetary Theory
17.5.2020
We are about the experience “the worst economic downturn since the Great Depression,” according to International Monetary Fund (IMF) Chief Economist Gita Gopinath. The coming economic downturn will be the result of the lockdown measures that were put into place by governments around the world...
After Trillions Printed Under QE, Politicians Now Say Deficits Don’t Matter
19.5.2019
When quantitative easing (QE) was introduced, it was likened to a drug, with central banks making an emergency injection of money to resuscitate the global economy. Now it seems that some politicians have gotten addicted to this drug, going as far as to claim that government deficits don’t...