How the World Stopped Producing Enough Money, Feat. Emil Kalinowski

Emil Kalinowski is the host of “Making Sense/Eurodollar University” collaborations with Jeff Snider.

In this illuminating conversation, he and NLW discuss:

How the global monetary order changed over the last 50 years The exact moment the world demonstrated it had too little money Why bitcoin and MMT are competing to shape the next generation of monetary thinking Why a big crash is coming, but we’ll be better on the other side

[braden]

I'm loving the reference to Asimov's Harry Seldon crisis as an analogy to what we're experiencing at the moment. So very apt. Thanks again for doing these episodes :)

[pmtreacy]

Really good. Thought provoking stuff., 👍

[exltd]

The central bank balance is so small compared to the shadow banking system. So even though the central bank balance sheet has grown by leaps and bounds it is a very small percentage as the total with the shadow banks

[Pax_Et_Veritas]

Because that worked out so well for the Weimar Republic and Zimbabwe. Clearly an insufficient money supply is the problem 🤣

[michaels]

Emil says MMT is at least new and fresh thinking that has not been tried before, but is this really true?
QUOTE: This article presents a summary of the main theoretical arguments and policy recommendations of Modern Monetary Theory (MMT) and traces back its intellectual origins to the writings on money of Georg F. Knapp and on fiscal policy ofAbba P. Lerner. It also presents evidence on two countries that followed MMT like policies: Germany between 1939 and 1945 and Argentina with brief interruptions since 1946. The main conclusion of the article is that any country that consistently follows the policy prescriptions of MMT will inevitably experience high inflation and lower (and even negative) economic growth