An economics, investment, trading and policy blog with a focus on Modern Monetary Theory (MMT). We seek the truth, avoid the mainstream and are virulently anti-neoliberalism.
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Saturday, May 14, 2016
Ellen Brown — “Print the Money”: Trump’s “Reckless” Proposal Echoes Franklin and Lincoln
So what need do we have for government-subsidized* private credit creation since a monetary sovereign can set interest rates to what ever is desired - down via deficit spending and/or equal fiat distributions to all citizens** thereby stealing from no one or up by taxation and/or by waiting for economic growth to increase the demand for fiat?
No need at all? So it appears.
*eq. fiat creation for special interests, eg. government-provided deposit insurance.
**via inherently risk-free fiat accounts at the cb with "trillion dollars coins" to finance it.
The reason "money printing" has such a bad reputation is likely because it has not been NOT combined with de-privileging* the banks and other depository institutions at the same time.
*such as allowing all citizens and their businesses to have accounts at the cb and not just depository institutions.
So what need do we have for government-subsidized* private credit creation since a monetary sovereign can set interest rates to what ever is desired - down via deficit spending and/or equal fiat distributions to all citizens** thereby stealing from no one or up by taxation and/or by waiting for economic growth to increase the demand for fiat?
ReplyDeleteNo need at all? So it appears.
*eq. fiat creation for special interests, eg. government-provided deposit insurance.
**via inherently risk-free fiat accounts at the cb with "trillion dollars coins" to finance it.
I'll add this:
ReplyDeleteThe reason "money printing" has such a bad reputation is likely because it has not been NOT combined with de-privileging* the banks and other depository institutions at the same time.
*such as allowing all citizens and their businesses to have accounts at the cb and not just depository institutions.