handling things (Or I just hate their coffee), I might want to transfer them over to my Dunkin' Donuts card. But if they allow me to do that (or the authorities require them to do that), they now have a fully convertible currency, with all the payment difficulties that entails. By definition, "non-convertability" MUST entail a monopoly. convertible currency means convertible by the issuer into something else at a fixed rate. Non-convertible currency means convertible by the issuer only into itself. You can trade both types for anything you like (including other currency). I'm not sure if your Starbucks points are convertible currency or not. Where does the value of your Starbucks points come from? Do they fix the value of your points to US$ or specific amount of coffee? If not, why do you accept them? I've been familiar with similar ideas for some time having previously read books by Robert Eisner, Rick Boettger and Francis X. Cavanaugh. I see Warren's work as perhaps closest to Boettger, whose mid-1990s book was roundly rejected by economists. I'm glad to know that there are people writing currently who understand the dangerous myths about the deficit that both conservative Republicans and many progressive and conservative Democrats still believe in. Btw, anyone can post diaries in the Seminal section at FiredogLake.Com" . If you go there, scroll down on the right hand side of the page until you reach the tool box and then click on Post Diary. It will bring up a