How About a Nice Game of Chess?

Created
Sun, 23/10/2022 - 08:11
Updated
Sun, 23/10/2022 - 08:11
In modern states, demand for currency comes from the ongoing self-imposed liability for the currency. There is no need to pay savers in order for them to desire to hold the currency (interest on sovereign bonds issued for "deficit spending"). Any justification for doing so must rest on some other perceived benefit of paying savers.