The MMT Podcast with Patricia Pino & Christian Reilly cover image

#126 Dirk Ehnts: How Banks Create Money

The MMT Podcast with Patricia Pino & Christian Reilly

CHAPTER

The Value of Money Comes From the Gold Backing

In the end, i've actually got the quo in front of me. In the end, paper money, the compulsory rate, is the perfected form of the value sign. The only form of paper money which grows directly out of metallic circulation, or simple commodity circulation itself. Yes, s for him, he's a metalist. So so he believes that the value of money comes from the gold backing. I was just reading a book yesterday, which is published by one of the the followers of knap and the book is about the currence school and banking school debate in the nineteenth century in britain. It's kind of awkward, because nomally you would think that in the

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