modern monetary theory, endogenous money, fractional reserve banking, money multiplier

Editor's Note: Since I've been harping on the ways in which Modern Monetary Theory misrepresents institutional realities, I thought it worthwhile to republish the following essay by occasional Alt-M contributor Julien Noizet, from his personal blog Spontaneous Finance. The essay originally appeared on December 17, 2013. Two…

credit unions, financial innovation, fintech, decentralization, disintermediation

Last week, I had the pleasure of addressing the Michigan Credit Union Economic Summit on the future of financial services. I discussed emergent themes in financial regulation as a result of new technologies, and their implications for the industry. Here are my remarks — I hope you…