How To Create A Currency From Scratch (Long Version)

Professor Stephanie Kelton (UMKC and economic adviser to Bernie Sanders) running a little live currency creation experiment! She begins by levying a tax on the subjects of her nation Keltonia, in order to create a demand for her currency, Keltoni. This leads to her citizens demanding that she spend some Keltoni into existence, so that they have the Keltoni to pay the tax. She then does this, spending 500 Keltoni, and taxing 200, for a deficit of 300. Since Kelton has a deficit of 300 Keltoni (she has spend