MMT economist Steven Hail helps Christian understand the intricacies of a modern money banking system as they discuss the interplay of government spending, private sector transactions, reserve and bond accounts at the central bank and how these things impact on interest rates, plus the effect of quantitative easing.

Please help sustain this podcast! Patrons get early access to all episodes and patron-only episodes: https://www.patreon.com/MMTpodcast