When studying and trying to understand the past, we always do so in order to cope with the present and be better equipped for the future – that’s a truism. But our endeavors become difficult when the past provides us with contradictory signals so that the future turns into mystery. Then it can happen that our certainties waver and we look for completely new orientations and even concepts. Continue reading Future – God’s eighth Day of Creation?
The following arguments represent a general criticism of various ideas asserting a creation of money out of nothing. Those who don’t know the work of professor Huber which the present article is meant to refute (Monetäre Modernisierung, 2016 Metropolis) need not be afraid. The following text may be read and fully understood without such knowledge. I will systematically contrast the view of orthodox money theory with the view proposed by the adherents of money ex nihilo (prefixed “N”). For further reading I recommend “Creating Money out of Nothing: The History of an Idea” by Mike King – an excellent survey which, apart from providing a very useful historical summery, contains logical arguments supplementing those the reader will find in the following analysis.*1*