12 Apr 2015


From @AnnPettifor

And this today

1. When people save in the form of a real commodity (eg corn) decision to save is a fully personal matter

2. In a monetary economy, saving is an act that reflects on others in the form of a financial claim

3. This means when we discuss financial savings we are also discussing debt: every penny saved is someone else's liability

4. In a monetary (as opposed to s non-monetary) economy each penny saved must correspond to a debt of equal size

5. In a monetary economy savings do not fund: they need to be funded

 - Andrea Terzi.

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Keep is seemly & on-topic. Thanks.