The MMT Podcast with Patricia Pino & Christian Reilly cover image

#137 Eric Tymoigne: What Makes Something Money?

The MMT Podcast with Patricia Pino & Christian Reilly

CHAPTER

Keeping the Nominal Value Continued

Historians have debated for a long time how to set the nominal value of money. Chartlists say there are three phases in monetary instruments' life: injection, circulation and redemption. The idea is that each monitary instrument can be redeemed by whomever holds it. But chartlists also point out you need specific requirements at the injections phase - so don't just issue according to what's needed.

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