Warren Mosler-en zenbait twitter

@PaulMeli1

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nothing moves across your tv screen. it’s just dots going on and off. same with money.

Warren B. Mosler #MMT@wbmosler

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Repaying the debt = Fed debiting securities accounts/crediting reserve accounts=shifting $ from one Fed account to another as any bank does when savings accounts mature and $ shift from savings to checking. The debt already is ‘the money’-$ spent by gov not yet used to pay taxes

@arthur_eckart

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The example is about gov tax liabilities of, say 10, and gov only spending 9, for example.

@sarahollando552

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@the_tpa

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I like to begin the story a bit before that, where the UK gov. first imposes a tax liability, payable in £ that come only from the gov or its agents, which creates sellers of real goods and services needing the gov’s spending of £ to pay their taxes.

@Gonzo_MM

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The Fed credits your bank’s reserve account at the Fed (noted as for further credit to you), and that Fed liability is then an asset of your bank, and your bank at the same time credits your account on its books, which is then a liability of your bank.

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Yes, Fed liabilities are considered outside money for the member bank holding those Fed liabilities as assets of the member bank.

@csissoko

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I assume this is in reference to member bank $US balances credited to reserve accounts at the Fed?

@arthur_eckart

eta 18beste erabiltzaileei erantzuten

Productivity gains are very good things with the right policy response.

@arthur_eckart

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‘sitting on it’ leaves that much fiscal space for increased public services or tax cuts. (That choice is political.)

Warren B. Mosler #MMT@wbmosler

@PMehrling

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@sashi31363

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With floating exchange rates there are no imbalances, only indifference levels.

@Adp1001

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Irudia

@Patrick87419357

@FrancoisNLPmtl

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And the US gov’s cost of funds currently near 0 makes you a profit center for them… 🙁

@kltblom

Warren B. Mosler #MMT @wbmosle

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Every bank, including the Fed, is a case of what’s known as ‘inside money.‘ Each spread sheet necessarily is in balance.

(https://twitter.com/wbmosler/status/1266050768290922496)

@VMRConstancio

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Yes with fixed fx policy holders of ‘new’ $ (deficit) spent have the option to convert to gold, or another currency, etc. and Tsy secs compete via rates with that option. With floating fx, tsy secs compete only with fed funds and both are fed accts. http://moslereconomics.com/wp-content/uploads/2007/12/Exchange-Rate-Policy-and-Full-Employment.htm

Warren B. Mosler #MMT@wbmosler