Italian Bonds

[piezoe]

Thank you for the suggestion. I completed Economic 101 online last year.

that's great! You'll be ready to read the modern money theory economists (MMT). I realize now that I gave you an incorrect title for Wray's book. I have it in my library, so I just checked out the correct title. It is "Understanding Modern Money" by L. Randall Wray. That's more less a classic now. "Modern Money," is a reference to fiat money as opposed to a commodity standard money, so it refers to money post 1971.

 

[piezoe]

A quick question for you sir: What about countries with huge balance of payments?

Can you be a little more specific. By "huge balance of payments" do you mean a country such as Germany that exports much more than it imports?

 

[ironchef]

Can you be a little more specific. By "huge balance of payments" do you mean a country such as Germany that exports much more than it imports?

No, I am referring to the US, every year we send more and more U$ to other countries. In the long run, I assume someone else can come buy up all the US assets? How does MMT treat this scenario?