Guns and Butter

Guns and Butter – March 7, 2012

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“There IS An Alternative To European Austerity: Modern Money Theory (MMT)” with Stephanie Kelton and Michael Hudson in Rimini, Italy. Difference between sovereign and non-sovereign money; what is money; fiat money; gold standard; fixed exchange rates; the Euro; difference between central banks and commercial banks; deflation and inflation; financial war against the economy; credit supply and asset prices; bank lending and capital investment; debt deflation stage and austerity stage of finance capitalism.