Thursday, December 15, 2016

Ellis Winningham — Mindless Hatred for the US Government Guarantees Poverty

You may not like the US Government, but the one thing that you do like is the sole product that the US Government manufactures – the US dollar. You want it, you demand it, you cannot get enough of it.
The US Government has a monopoly over the US dollar. No other entity, foreign or domestic, can issue the US dollar but the US Government. Every last US dollar in the US private sector was put there by the US Government through deficit spending. Through trade, some of those dollars flowed from the hands of US citizens and into the hands of the rest of the world.

So why do you want US dollars?
Ellis Winningham — MMT and Modern Macroeconomics
Mindless Hatred for the US Government Guarantees Poverty
Ellis Winningham

1 comment:

Matthew Franko said...

"So why do you want US dollars?"

Should ask China that....