Welcome to episode 88 of Activist #MMT. Today’s part two of my two-part conversation with all three co-authors of the 2020 paper, An Accounting Model of the U.K. Exchequer, which is published by The Gower Initiative for Modern Money Studies, or GIMMS. The three authors are Richard Tye, Andy Berkeley, and Neil Wilson.

Today’s episode is part two of a two-part conversation, but it’s also the final part in a larger seven-part series on the paper and its authors. (A link to all seven parts can be found here.) The first five are personal interviews with each individual author. In __PART_SIX__, last week, and seven, today, I talk with all three together about their paper in depth. (It should also be noted that David Merrill played an important role in the paper, and was the primary influence of this seven-part series.)

In order to strengthen my understanding of the paper and the Exchequer, today I ask several very specific questions. Some of the topics we discuss include the so-called independence of the Bank of England, intraday credit versus exchequer credits versus actual money; the sui generis balancing item of the Consolidated Fund and other funds, and the daily sweeping process and how it relates to Play-Doh. Obviously.

But for now, let’s get right back to my conversation with Richard Tye, Andy Berkeley, and Neil Wilson.