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View Diary: NYT: It's Krugman Vs. Reinhart & Rogoff, Who Trivialize Their Incompetence And Attack “Left” (246 comments)

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  •  Currency is debt. Every dollar is a (0+ / 0-)

    certified IOU. Certified because socially recognized. For comparison think of marriage certificates.

    We organize governments to deliver services and prevent abuse.

    by hannah on Sat Apr 27, 2013 at 02:29:38 AM PDT

    [ Parent ]

    •  Context please... (0+ / 0-)

      In particular context, I am using debt interchangeably with bonds.  Perhaps imprecise, but the point is that bonds have a role in public policy that has nothing to do with financing the federal government.

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