Modern Monetary Theory

Discussion in 'Markets & Economies' started by mmm....shiney!, Sep 14, 2019.

  1. leo25

    leo25 Well-Known Member Silver Stacker

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    Maybe he just meant that a fixed money system could never achieve the high levels of growth as an inflation based system.

    I personally think a fixed money system is just as bad as the unlimited money system we have today. A mid point would be best, but humans struggle achieving balance.
     
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  2. mmm....shiney!

    mmm....shiney! Well-Known Member Silver Stacker

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    Precisely.

    On another note I read an interesting comment that energy should our currency. I’m going to spend some idle hours looking in to that.
     
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  3. leo25

    leo25 Well-Known Member Silver Stacker

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    Maybe, but then again most individuals don’t even know what they themselves want. :p
     
  4. heartastack

    heartastack Well-Known Member Silver Stacker

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    Private savers won’t always know what’s best for the business and removes a degree of freedom, growth and niche innovation that money creation provides
     
  5. mmm....shiney!

    mmm....shiney! Well-Known Member Silver Stacker

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    That also happens now. Lenders want to create money for asset purchases rather than entrepreneurial activity. This is why companies issue shares.
     
    Last edited: Oct 6, 2020
  6. mmm....shiney!

    mmm....shiney! Well-Known Member Silver Stacker

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    ^ easier to discuss the reality of MMT as opposed to the hypothetical of sound money :D
     
  7. jultorsk

    jultorsk Well-Known Member Silver Stacker

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    https://www.bloomberg.com/news/arti...0-bolivar-bills-worth-just-0-23?sref=6uww027M

    Venezuela has begun to import banknote paper and is mulling plans to print bills with larger denominations as hyperinflation causes shortages of cash, according to six people with knowledge of the matter.

    The country has brought in about 71 tons of security paper this year from an Italian printer majority owned by the private equity firm Bain Capital, according to some of the people and data reviewed by Bloomberg from Import Genius, which compiles customs records it obtains through private sources. The central bank is considering new bills starting with 100,000 bolivars, the people said. It would be the highest denomination yet, but still worth only $0.23.
     
  8. mmm....shiney!

    mmm....shiney! Well-Known Member Silver Stacker

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    ^ that’s what happens when a government trashes its country’s economy with flawed political and economic policies.
     
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  9. Davros10

    Davros10 Well-Known Member Silver Stacker

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    Last article I read was a couple of years ago, and they couldn't afford the printing costs for new currency.
     
  10. willrocks

    willrocks Well-Known Member Silver Stacker

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    You mean suppliers wouldn't accept their newly printed money? I'm shocked /s
     
  11. mmm....shiney!

    mmm....shiney! Well-Known Member Silver Stacker

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    I would like to see the Feds employ people to remove weeds and destroy feral animals.

    Our local council is understaffed in this area, as are most organisations and the 2 biggest threats to our ecosystems that can be managed on a day-day basis are weeds and feral pests. Especially so in the wake of the recent bush fires as weeds are extremely opportunistic and feral predators get an advantage in that native wildlife have less cover.

    Bush Heritage for example prioritises the threats in their reserves and often have to ignore lesser threats eg cobblers pegs as their resources are stretched.

    I'm not sure how an individual working on a feral or weed eradication program can transition into the private sector long term (though the Qld State government is contracting out fire management to privateers) but as Warren Mosler argues, the private sector generally hires employed people as opposed to the unemployed. So as long as individuals are working, they have a better chance of transitioning into the private sector.
     
  12. leo25

    leo25 Well-Known Member Silver Stacker

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    Japan Travel Now Paid by Japanese Government.

    Though the guy in this video mistakenly says it's funded by tax payers. :) Man people really don't like letting go of old ideas.

     
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  13. sgbuyer

    sgbuyer Well-Known Member Silver Stacker

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    We have something similar, tourism vouchers, $100 per adult citizen.

    It's crazy how much money they are throwing to subsidise wages and new hires. If you are in a correct industry, you can setup a business and have the government pay for half your hires for the next 6 months.

    [​IMG]
     
  14. alor

    alor Well-Known Member Silver Stacker

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    China support $15,000 gold price, but Gold is The Anti Dollar
    wonder how people support gold and dollar at the same time o_O
     
  15. mmm....shiney!

    mmm....shiney! Well-Known Member Silver Stacker

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    Why not just cut taxes?
     
  16. sgbuyer

    sgbuyer Well-Known Member Silver Stacker

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    The taxes we have here are mostly consumption and property transaction taxes. Income tax is very low for local people. Only people earning more than $70k a year pay any real taxes, those between $50-70k, maybe $100-$300 for income tax. For women with kids, no taxes even for $100k earners. The other third of income earners not only don't pay tax but receive money from the government every year.
     
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  17. alor

    alor Well-Known Member Silver Stacker

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    maids pay more in tax than many office workers
     
  18. willrocks

    willrocks Well-Known Member Silver Stacker

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    How does that work in libertarianism? Wouldn't you do it yourself or put a price on it?
     
  19. sgbuyer

    sgbuyer Well-Known Member Silver Stacker

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    Maids are for lazy ppl. Even bill gates does the dishes.

    [​IMG]
     
  20. 66rounds

    66rounds Well-Known Member Silver Stacker

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    Plenty of private sector companies involved in grounds maintenance. Wouldn't this be a directly transferable skill??
     
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