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Chapter 1: What is Mutual Credit?
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fiat money even really is: It is a fungible pan-bank liability.
Sacha Meyers • Bitcoin Is Venice: Essays on the Past and Future of Capitalism
This brings us back to Earnin and Public. These optional payment models, what you might call business models of reciprocity, also operate like communities. They are implemented in software and so do not have the same sense of physical, local community, but community is still the underlying value system.
Richard Pickering • Reciprocity as a Business Model
While central banks are overseen by directors chosen by those elected to government, and central banks can increase the money supply through open market operations (where central banks provide liquidity directly to private banks in their currency like during the 2008 recession and more recently with COVID-19), the vast majority of money is created
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