We discuss the recurring drama surrounding the US government’s debt ceiling, and how a comprehensive understanding of modern monetary theory and public finance can help you eliminate a lot of fog and confusion regarding the topic.
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With MMT, why do income taxes exist. Why does the gooberment not just print the money they need according to budget debates, print the money, and leave the people alone? I mean WTF…if you can just print money from nothing…why harass the people?
For that matter, why even have corrupt and meaningless (s)elections if you can just print the money and no consequences exist. What is the definition of ‘inflation’ and ‘price’?
Further, why have a ‘Republic’ when (s)elections and currency valuation are derived from ‘nothing’, ‘defined by an Oligarchy’ and ‘We People’ are enslaved by continual rising prices, cheapened value of labor, and ever decreasing value of the currency, and rampant inflation. Why not just revolt and hang the Oligarchs?
Yes, gold is an important component to protect yourself from financial manipulation caused by politics, we discuss its importance in the aforementioned episode about the Permanent Portfolio.
Hi Jim! Good question. In the MMT paradigm taxes exist to create a demand for the token to begin with. Without taxes nobody would need to acquire the token so when the government spends the money no demand for the money would exist. So a minimum of taxation is needed to generate demand for the token. Taxes drive money.
With MMT, why do income taxes exist. Why does the gooberment not just print the money they need according to budget debates, print the money, and leave the people alone? I mean WTF…if you can just print money from nothing…why harass the people?
For that matter, why even have corrupt and meaningless (s)elections if you can just print the money and no consequences exist. What is the definition of ‘inflation’ and ‘price’?
Further, why have a ‘Republic’ when (s)elections and currency valuation are derived from ‘nothing’, ‘defined by an Oligarchy’ and ‘We People’ are enslaved by continual rising prices, cheapened value of labor, and ever decreasing value of the currency, and rampant inflation. Why not just revolt and hang the Oligarchs?
FYI—GOLD HAS NO MEMORY!
Yes, gold is an important component to protect yourself from financial manipulation caused by politics, we discuss its importance in the aforementioned episode about the Permanent Portfolio.
It is true that politicians do things that are harmful to our finances which is why we talk on our show off and on about ways to protect yourself from such fluctuations. See for example our episode about the Permanent Portfolio https://irida.tv/economics/lifelong-financial-security-in-30-minutes-the-permanent-portfolio-ep-40/
A price is the amount of money demanded (ask price), offered (bid price), or realized (transaction price) for an item.
Hi Jim! Good question. In the MMT paradigm taxes exist to create a demand for the token to begin with. Without taxes nobody would need to acquire the token so when the government spends the money no demand for the money would exist. So a minimum of taxation is needed to generate demand for the token. Taxes drive money.