Daily Archives: August 22, 2013

Government Spending and the Government’s Money

By Dan Kervick

Warren Mosler has made an interesting proposal concerning how we should think about Treasury securities:

… with today’s floating fx/non convertible currency tsy secs (held outside of govt) are logically additions to ‘base money’, as the notion of a reduction of govt reserves (again, gold, fx, etc) is inapplicable to non convertible currency.

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NEP’s William Black appears on HuffPost Live

The legal culture of big-time settlements can short-circuit the law, protecting wrongdoers from punishment, trial or even an admission of guilt. That’s just what the government has done for the major banks implicated in sweeping mortgage fraud. Is it too late to rectify the big banks role in the housing and financial crisis? Bill and other panelists speak with Alyona Minkovski on this subject.