L. Randall Wray

We cannot run out of money. Impossible. Money is a keystroke credit. to an account. It is a keystroke. You cannot run out of keystrokes. A bank can't run out of money. The Treasury cannot run out of money. All this today on Something You Should Know.

We cannot run out of money. Impossible. Money is a keystroke credit. to an account. It is a keystroke. You cannot run out of keystrokes. A bank can't run out of money. The Treasury cannot run out of money. All this today on Something You Should Know.

We cannot run out of money. Impossible. Money is a keystroke credit. to an account. It is a keystroke. You cannot run out of keystrokes. A bank can't run out of money. The Treasury cannot run out of money. All this today on Something You Should Know.

That's the big question that I've been trying to answer constantly. in writing for the past 30 years. You know, what is money? So most people will say, oh, well, you know, it's coins, it's paper money, and it's something I use to go buy stuff, okay? And so that's sort of a functional approach. What do I use when I go buy stuff? Increasingly, you don't use coins or paper money

That's the big question that I've been trying to answer constantly. in writing for the past 30 years. You know, what is money? So most people will say, oh, well, you know, it's coins, it's paper money, and it's something I use to go buy stuff, okay? And so that's sort of a functional approach. What do I use when I go buy stuff? Increasingly, you don't use coins or paper money

That's the big question that I've been trying to answer constantly. in writing for the past 30 years. You know, what is money? So most people will say, oh, well, you know, it's coins, it's paper money, and it's something I use to go buy stuff, okay? And so that's sort of a functional approach. What do I use when I go buy stuff? Increasingly, you don't use coins or paper money

You flash or you tap a piece of plastic on a reader, and that's how you buy stuff. So I think that we need to get away from this notion that money is something we can get our hands on. If you go back in time, actually, most market activity as far back as we go, took place on the basis of credit and debit. And really that, I think, is how we should look at money.

You flash or you tap a piece of plastic on a reader, and that's how you buy stuff. So I think that we need to get away from this notion that money is something we can get our hands on. If you go back in time, actually, most market activity as far back as we go, took place on the basis of credit and debit. And really that, I think, is how we should look at money.

You flash or you tap a piece of plastic on a reader, and that's how you buy stuff. So I think that we need to get away from this notion that money is something we can get our hands on. If you go back in time, actually, most market activity as far back as we go, took place on the basis of credit and debit. And really that, I think, is how we should look at money.

Money is a credit in your hands and it's somebody's debt. And so I think of money as being a debt denominated, that is, measured, kept track of, in terms of a money of account. In the United States, that is the dollar.

Money is a credit in your hands and it's somebody's debt. And so I think of money as being a debt denominated, that is, measured, kept track of, in terms of a money of account. In the United States, that is the dollar.

Money is a credit in your hands and it's somebody's debt. And so I think of money as being a debt denominated, that is, measured, kept track of, in terms of a money of account. In the United States, that is the dollar.

Yeah, if you've ever seen the safe door open, you look in there, They couldn't possibly have the money in there. They may have hundreds of millions of dollars of deposits of their customers, and they certainly do not keep that money in the safe. So where is it? Well, it's neither here nor there. It's electronic entries on a computer hard drive. That's what it is.

Yeah, if you've ever seen the safe door open, you look in there, They couldn't possibly have the money in there. They may have hundreds of millions of dollars of deposits of their customers, and they certainly do not keep that money in the safe. So where is it? Well, it's neither here nor there. It's electronic entries on a computer hard drive. That's what it is.

Yeah, if you've ever seen the safe door open, you look in there, They couldn't possibly have the money in there. They may have hundreds of millions of dollars of deposits of their customers, and they certainly do not keep that money in the safe. So where is it? Well, it's neither here nor there. It's electronic entries on a computer hard drive. That's what it is.

It's a record of what the bank owes you. That's what your checking account deposit is. It's just a record of what the bank owes you. And when you make a payment to someone, your bank will debit your account. and credit the account of whoever is receiving your payment. So it's just a series of credits and debits. It's all accounting.

It's a record of what the bank owes you. That's what your checking account deposit is. It's just a record of what the bank owes you. And when you make a payment to someone, your bank will debit your account. and credit the account of whoever is receiving your payment. So it's just a series of credits and debits. It's all accounting.

It's a record of what the bank owes you. That's what your checking account deposit is. It's just a record of what the bank owes you. And when you make a payment to someone, your bank will debit your account. and credit the account of whoever is receiving your payment. So it's just a series of credits and debits. It's all accounting.

Well, so I can say a lot about the government's money, but first, you can create money. You can take a piece of paper and write, I owe you $5. You have just created money. Money is the record of a debt. You have just put yourself in debt. I owe you $5. Now, can you find someone to accept it? If so, you really have created money. And probably your mom would take it.

Well, so I can say a lot about the government's money, but first, you can create money. You can take a piece of paper and write, I owe you $5. You have just created money. Money is the record of a debt. You have just put yourself in debt. I owe you $5. Now, can you find someone to accept it? If so, you really have created money. And probably your mom would take it.