Modern Monetary Theory

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

  1. mmm....shiney!

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

    Joined:
    Nov 15, 2010
    Messages:
    20,909
    Likes Received:
    3,806
    Trophy Points:
    113
    Location:
    昆士蘭
    Yep.

    In fairness though the various spokespersons for the CBs have stated that tracking individuals and their spending habits is not one of the objectives of a CBDC.

    I’m not sure how anyone can escape the prying eyes of the ATO etc though. DLT just makes it possible for us to have our purchasing power restored. The State still makes the laws and carries the guns though.
     
    leo25 likes this.
  2. 66rounds

    66rounds Well-Known Member Silver Stacker

    Joined:
    Jun 22, 2019
    Messages:
    2,215
    Likes Received:
    2,312
    Trophy Points:
    113
    Location:
    Melbourne
    Please explain what you mean by it restoring our purchasing power
     
  3. mmm....shiney!

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

    Joined:
    Nov 15, 2010
    Messages:
    20,909
    Likes Received:
    3,806
    Trophy Points:
    113
    Location:
    昆士蘭
    Basically using currency that is non-inflationary and subject to market forces rather than centrally planned forces.
     
    Mill3d and 66rounds like this.
  4. 66rounds

    66rounds Well-Known Member Silver Stacker

    Joined:
    Jun 22, 2019
    Messages:
    2,215
    Likes Received:
    2,312
    Trophy Points:
    113
    Location:
    Melbourne
    What will stop central banks from simply piggy backing "new/extra" ledgers onto their CBDC?
    "Oh, we decided it's better economically for everyone to use CBDC ver. 92.1 so from X date CBDC ver 91. will be exchangeable at a rate off 10:1"

    If it's not tangible it's by nature inflatable
     
    mmm....shiney! likes this.
  5. mmm....shiney!

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

    Joined:
    Nov 15, 2010
    Messages:
    20,909
    Likes Received:
    3,806
    Trophy Points:
    113
    Location:
    昆士蘭
    When I talk about restoring our purchasing power via crypto I’m not including CBDCs on the list. They’re still government issued fiat.
     
    66rounds likes this.
  6. mmm....shiney!

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

    Joined:
    Nov 15, 2010
    Messages:
    20,909
    Likes Received:
    3,806
    Trophy Points:
    113
    Location:
    昆士蘭
    The finite/infinite nature is coded eg BTC’s limited supply cannot be changed. Don’t ask me for a tech explanation though coz I couldn’t give it to you, maybe @dozerz or @willrocks could.
     
    66rounds likes this.
  7. leo25

    leo25 Well-Known Member Silver Stacker

    Joined:
    Jun 8, 2010
    Messages:
    3,726
    Likes Received:
    1,991
    Trophy Points:
    113
    I guess when most people use the word "crypto" they don't really mean it in its technical aspect, but rather an idea e.g. decentralised, open source etc... Clearly a CBDC doesn't have the ideals the "crypto" crowd like.
     
    66rounds and mmm....shiney! like this.
  8. mmm....shiney!

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

    Joined:
    Nov 15, 2010
    Messages:
    20,909
    Likes Received:
    3,806
    Trophy Points:
    113
    Location:
    昆士蘭
    Bill Mitchell discusses the rising debt levels of the states.

    RBA_State_Territory_Debt_Purchases_December_9_2020-1.jpg

    http://bilbo.economicoutlook.net/blog/?p=46511
     
  9. leo25

    leo25 Well-Known Member Silver Stacker

    Joined:
    Jun 8, 2010
    Messages:
    3,726
    Likes Received:
    1,991
    Trophy Points:
    113
    Maybe states should borrow from the RBA then buy Gold and Bitcoin :) Problem?
     
  10. mmm....shiney!

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

    Joined:
    Nov 15, 2010
    Messages:
    20,909
    Likes Received:
    3,806
    Trophy Points:
    113
    Location:
    昆士蘭
    How many jobs will that create? ;)
     
  11. leo25

    leo25 Well-Known Member Silver Stacker

    Joined:
    Jun 8, 2010
    Messages:
    3,726
    Likes Received:
    1,991
    Trophy Points:
    113
    As many as you want. They get paid in the new currency. Or borrow twice as much, half goes to jobs and half goes to buying Gold and Bitcoin.

    After 10 years Gold and Bitcoin will go up in value, while the AUD will go down in value. You should be able to pay off all the debt to the RBA with 1 BTC and 1oz of gold. :D The rest the state pockets. Vote for me in the next state election.

    [​IMG]
     
    Last edited: Dec 21, 2020
  12. JohnnyBravo300

    JohnnyBravo300 Well-Known Member

    Joined:
    Mar 16, 2019
    Messages:
    2,257
    Likes Received:
    1,683
    Trophy Points:
    113
    Biden will create millions of infrastructure jobs like obama did all over the states to get men working, same after the depression.

    Everyone that wants to work will have a job especially after Trump brought back all the manufacturing like he said.

    We need millions more govt jobs and that added to infrastructure and manufacturing makes everyone prosperous as heck.
    They can print the rest.

    No just kidding we have been dry humped hard that's all haha.

    I'm starting to sound like a mmt goon now, just talk in circles using big words!
     

Share This Page