For decades & centuries, people have been repeatedly asking: "Is there any limit to how much currency a nation can create?"
The answer seems intuitively obvious. Why doesn't everyone know it? Maybe some don't WANT this answer to be widely accepted? Or are entire populations really this timid and lazy about considering such a simple yet fundamental topic?
Whatever teamwork can produce, then the cooperative credits which team members extend to one another already exist.
The only question is how accurately to denominate and track those distributed credits, so that all team members can use their credits, when and as needed - to rapidly explore even more team options.
The goal is to expand future team options, NOT to hoard current fiat (aka, the distributed inter-citizen credits that drive & sum to aggregate growth).
Amazingly, those bastions of the modern G7, the policy bureaucracies of the USA, Canada, Europe & Australia, all seem to be ignoring that self-evident answer. Hence, they have to be constantly reminded - even today - by people like Bill Mitchell, Warren Mosler & Randy Wray.
'You will note that:
[Nations] do not spend by “printing money”. They spend by creating deposits in the private banking system. Clearly, some currency is in circulation which is ‘printed’ but that is a separate process from the daily spending and taxing flows;
There has been no mention of where the government gets the ‘credits’ and ‘debits’ from! Central banks create bank reserves (money) out of thin air; and
Any coincident issuing of government debt (bonds) has nothing to do with ‘financing’ the government spending – a point that is explained further on in this chapter.'