Recently, the neglected question of why the US government borrows, given that it can print money, has arisen in the context of discussions surrounding a new documentary, Finding the Money. As L. Randall Wray observes in this one-pager, Modern Money Theory has been providing answers to this question for some time; and, he argues, it is a topic that mainstream economists are ill-equipped to address, since very few concern themselves with the monetary operations that underlie the question of why a currency-issuing government issues debt.
Finance
Reuters: Swiss watchdog to propose looser anti-money laundering rules for fintechs
Having lost much business due to new banking rules with regard to illicit money, Switzerland is looking for ways to regain lost business by dreating new legal loopholes. Read here
EU politics
Kyiv Independent: NATO Official retracts controversial suggestion about Ukraine exchanging territory for NATO membership
If this doesn’t open the dam to a bit more honesty in western media reporting about the reality of the situation in Ukraine and the need to consider diplomatic solutions, what will? Read the article […]
Finance
Alex Cobham: KPMG And The False Objectivity Of The ‘Big Four’
From the Huffington Post It’s time to recognise them for what they are or we’ll continue getting stung, says economist and Chief Executive of the Tax Justice Network, Alex Cobham. Read here
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