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   djsumdog (djsumdog@djsumdog.com)'s status on Sunday, 19-May-2024 23:53:03 JST djsumdog

   • Hoss Delgado
   • Josh Davis
   • Sick Sun
   The federal reserve is a scammy ponzi scheme, yes .. but the concept around it is you add/remove money into the supply via interest rates.
   
   The idea behind modern monetary theory is "the government is sovereign therefore it has monopolistic control to print more money." In theory money (debt) represents some value behind shifted around. When you just print more money, you devalue all the existing money that has been printed. MMT fundamentally leads to hyper-inflation and that's intentional.
   
   MMT is a means to crash the entire economy, to make way for digital currency that limits the type of spending and increases control. (Imagine your paycheck where you get 300 Food-USDC, 300 Luxary-USDC, 500 Housing-USDC. That's what MMT-economists/WEF/World Governments want: control over all transactions)
   
   People who go along with MMT are pawns and useful idiots.
   • Embed this notice
     Nicholas Conrad (nicholas@aklp.club)'s status on Monday, 20-May-2024 01:27:04 JST Nicholas Conrad

     in reply to

     • Hoss Delgado
     • Josh Davis
     • Sick Sun
     I don't think Stephanie Kelton is attending Bohemian Grove, I think she just needed something to write her phd about.
     
     MMT also dosn't propose hyperinflation as a matter of theory. Instead of congress taxing a fixed amount and the fed monkeying with the money supply on the back end to target 2% inflation, MMT wants the fed to print all the money on the front end and congress to dynamically adjust the tax rates in real time to pull cash out of the economy to target inflation.
     
     Of course for that to work, congress would have to light all of the taxes on fire upon receipt, and when has congress ever been able to resist spending money? So it's only inherently inflationary if you subscribe to public choice theory, or generally recognized government's inability to achieve competence.
     
     The fundamental error MMT makes is that it misunderstands the nature of money and value. MMT thinks that if you spend a dollar on something, then by definition it is worth a dollar. That is (to a nearest approximation) true for voluntary market transactions, but not for government expenditures, which can be (and often are) negative value add.
   • Embed this notice
     DrFell (Disgruntled Citizen)✅️ (drfell@freeatlantis.com)'s status on Thursday, 23-May-2024 20:33:01 JST DrFell (Disgruntled Citizen)✅️

     in reply to

     • Hoss Delgado
     • Josh Davis
     • Nicholas Conrad
     • Sick Sun

     @nicholas @djsumdog @meowski@fluf.club @Hoss @sun @GuerillaOntologist
     It won't work as long as the Fed is the institution printing the money. Treasury should print it then it may have a chance of working. The Fed needs to be abolished , that is who we borrow from, it's their loans we are indebted too.

     djsumdog likes this.