Taking Stick of Money Today, Again

I need to open this long, long post with a correction, one I should have issued some time ago. I wrote the last posts, Taking Stick of Money Yesterday and Today, without correcting immediately a misconception about the nature of what money is. By not jumping on that with jack-booted gusto, I failed to correct what I'm sensing must be one of the most outrageous lies in economic thought, a lie that leads to all sorts of following lies that in accumulation clutter the average head with complete nonsense.

( And the correction is. . . . )

X-Posted to talk_politics.