Financial Jargon - Will be published in full 02/23/2020

What is a financial institution’s most important task? Lending? Investing? Providing liquidity to the markets? A financial institution’s most important task is to create and maintain a high-level discursive environment in which fiat can function as a medium of exchange. Fiat, having no intrinsic value, cannot function outside of this narrative frame, of this discursive landscape. A financial institution sets a paradigm, and a structure of awareness, and it does so through Jargon.

This part will be published in full tomorrow, 02/23/2020.