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3min chapter
Understanding Money Mechanics with Bob Murphy (WiM397)
The "What is Money?" Show
Government Stability and Debt Issuance
The chapter delves into the concept of leveraging and debt issuance in relation to government stability, highlighting the backing of government bonds and fiat currency by future taxpayers' cash flows. Warren Mosler's analogy of working for coupons or 'Mosler units' under the threat of a gun is also discussed, followed by a rhetorical debate on the underlying ideology.
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