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Base Money and Free Markets | The Snider Series | Episode 7 (WiM109)
The "What is Money?" Show
Is There a Difference Between Supply and Demand?
Supply and demand should be driving the creation or depletion of the money supply to some extent, otherwise we're stuck with perfectly inelastic money like bit coin. I'd like to re imagine this without banks. If we have competing currencies that are all convertible into base money, then you can always convert them out of business. Why? They have an essential skin in the game to make sure that this elasticity they're providing through current is some form of responsible elasticity. Thisn't mean it's perfect, but it is at least more responsible to the monetary system, which is always threatening convertibility.
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