NicTheNZer's channel

@sandleparf Thanks for the warning.

Seriously, do what Alex says, watch the interview. I guess most of the 'quotes' which Alex 'cites' must have been off recording. Alex seems to have transcribed them from the same source he gets his other government documents from, good of the government to record them for posterity.

@bobbytookalook Really, I guess the claim that the 'Nobel' title confers 'prestige' is valid then. Look up the wiki page on Nobel Memorial Prize in Economics.

Should also point out "2) The value of all remaining property ",

property is not part of the monetary system. If the MPE model assumes this it is completely invalid, as much a figment of imagination as magic is.

If it was then

1) the Federal reserve would have property values in the monetary m...

Under all full reserve proposals the only agency which can put pressure onto the central bank to expand the money supply would be the treasury. But actually they do this today. At the moment the commercial banks go to the central bank and demand liquidity (because we didn't see this coming), but ...