We are joined by Professor L. Randall Wray this week, an economist and expert in Modern Monetary Theory. Prof. Wray also blogs over at 'New Economic Perspectives', which tries it's best, amongst other things, to dispel the myths surrounding our monetary system. We discuss the origins of money, Chartalism, the German Colonies and Stone money, the nature of government debt, the problems with the euro, commodity price speculation, Bill Clinton's budget surpluses, and regime change in the US.
Prof. Wray has a new book coming out next month. You can find it on Amazon here:
You can check out his postings on the most excellent blog:
Over and Ooot!