Mind Matters Natural and Artificial Intelligence News and Analysis

TagAlexandria Ocasio-Cortez

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Concept idea of FED, federal reserve system is the central banking system of the united states of america and change interest rates. Percentage icon and arrow symbol on wooden cube

Central Banks vs. Cryptocurrencies: Why the Growing Tension?

Modern Monetary Theory (MMT), which is gaining ground, holds that government should just print as much money as it feels it needs and then raise taxes to cover shortfalls

On the way to explaining how a cryptocurrency system might work, financial analyst Bernard Fickser asks readers to think about the crucial difference between money, as held by a private bank — we’ll call it Merchant Navy Bank — and a central bank operated by a government, say the U.S. Federal Reserve System (the Fed). In his short online book, The Creation of Money, Fickser distinguishes between private banks and central government banks. Private banks start with money that already exists. The money that Merchant Navy Bank lends for mortgages, for example, is contributed by depositors who agree to tie up their money for several years in savings certificates. In return, they get a higher than average rate of interest.…

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Cardboard boxes from Brouhaha brewery waiting to be shipped

Amazon pulls out of the New York City deal

Is this a message about the new economy in America?

Jay Richards thinks that crony capitalism is a long-term problem but that, in this case, New York legislators showed “staggering economic illiteracy and a disregard for their constituents”

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