Re: Re.: 'Stability' Of Equilibrium w/Zero-Cost Money

["Gunnar Tomasson" <tomasson@xxxxxxxx>]

Harry:

I don't get your point.

The Creditary View of Money is summarized in the Money = Debt equation.

One gets into debt by signing Zero-Cost IOU, the counterpart to which is
Zero-Cost Money (or Bank IOU).

Gunnar


----- Original Message -----
From: "Harry Veeder" <eo200@xxxxxxxxxxxxxxxxxxx>
To: <pkt@xxxxxxxxxxxxxxxx>
Sent: Thursday, September 21, 2000 9:57 AM
Subject: Re: Re.: 'Stability' Of Equilibrium w/Zero-Cost Money


> Gunnar Tomasson wrote:
>
> <snip>
> >8. Now, money impacts real-world economic developments - once it is
> >recognized that modern money is created with the stroke of a computer
key,
> >the proposition that "Walras's theory and all others along those lines -
> >including Samuelson's - are little better than nonsense" does not hold
water
> >- THEY ARE NONSENSE!
> <snip>
>
> This would be accurate if modern money weren't always created with a
> corresponding amount of debt.
>
> Harry Veeder
>
>
>
>
>
>
>
>