Brendan Greeley

Colonies came up with best practices to make sure why financially that colonial paper money had value.

What we did was, with the Constitution, we wiped all that clean and we handed it to the banks.

I was with a group of historians and we're having dinner and we ended up talking about Hamilton, the play.

As one does.

And I said I was frustrated because I don't think that we should take it for granted that Alexander Hamilton's financial system was the one that had to happen or that it was necessarily the best one for everyone.

And one of the historians said, you're literally the only person I know who finds that problematic because of the financial plan.

Oh.

I'm a credit money guy.

Well, okay.

I mean, okay.

Because you and I have the same history of encountering MMT at the same time and wrestling with it and trying to figure out, like, does it make sense?

Does it not make sense?

And this, where I am right now, is at the end of that long process of wrestling with that.

We'll get to that.

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So once you let go of the assumption of monetary sovereignty, all of a sudden you understand what euro dollars are.

It's very hard to explain to people what euro dollars are.

But once you say, look, anybody can create a dollar, this is the old Hyman Minsky quote, like anybody can make money.

The challenge is getting it accepted.

The challenge is getting it accepted.