Money Money Money

If you don't already read and follow FOFOA, you should.  He's written a great article on Money. 

What I learnt:

• It is important to consider the functions of money separately.  Specifically, that the "unit of measure" can be anything, eg, we could prices things (everything) in units (eg. "Man-days work", Bit Coins, 0-10) irrespective of the transactional currency (eg. AUD, cigarettes) and the store of wealth (works of art, houses).
• Base (government) money, is not the same as credit (bank) money. Base money is the "unit of measure", or the yard stick, or the zero to ten system of pricing things.  Changing the amount of base money is different to changing the amount credit money.
• MMT is NQR.  Sectoral balance sectoral shmalance.
• Government spending is the main problem.  (D'uh!)
• USA is headed for hyper-inflation.
• Gold is the place to be.