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The Money Supply and Demand Market: The Greatest Myth of Them All

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Of the three fictional commoditiesland or natural resources, labor power or person-time, and money or financial capital—none is more shrouded in obscurity and more fictional than money.1 This mystery and obscurity stems from efforts to shoehorn money into a supply and demand individual-choice free-market rubric that cannot, even at a superficial level as with land and labor, be done. The degree to which the pretense of moneyas a commodity is promoted and the extent to which it is surrounded by an esoteric almost mystical aura, masks the way in which the power to create money is simply transferred to the private financial sector by supposedly democratic governments under current, historically evolved, monetary systems.

The usual SDM fictions are inadequate for this immense ideological cover up. A vast layer of ritual, special language, multiple layers of opaque institutional shells and reciprocal and overlapping semipublic/semiprivate institutions are necessary to turn the inescapably s...

Keywords

Interest Rate Monetary Policy Central Bank Money Supply Hedge Fund 
These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.

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Copyright information

© The Author(s) 2016

Authors and Affiliations

  1. 1.Benedictine UniversityIllinoisUSA

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