18 March

An expert on money says what I always say here about it. It’s worth - nothing. The idea a government for example needs to be able to ‘pay for’ its promises, by having enough money, is nonsense. Government makes the money, it can have us much as it likes. Government is not a household, government is not a business. For individuals and businesses, money has a value, but only because what it allows the exchange of, goods and services. In itself it’s worth nothing.