Re:A Beginner’s Guide to MMT
by EGreg on Friday March 22, 2019 @02:38PM
(#19465555)
When more currency X is issued, the losers are people (including lenders) who are locked into assets denominated in X, if this leads to a devaluation of X relative to other things.
The status of fiat being legal tender for all debts is what makes lenders unable to demand other currencies but they can execute forward contracts of X versus a basket of commodities for example.
The status of fiat being legal tender for all debts is what makes lenders unable to demand other currencies but they can execute forward contracts of X versus a basket of commodities for example.