Friday, September 29, 2017

Mish — Bitcoin vs Dollars: Which One is a Fraud? Which One is a Ponzi Scheme?

MMT Foolishness: Modern Monetary Theory (MMT) suggests that debt does not matter and governments can print at will creating a virtual utopia of constant growth. MMT, Keynesian, and Monetarism all suffer from the same fatal flaw: They promise something for nothing, in various ways.
For discussion, please see Debunking MMT, Keynesianism, Monetarism: Reader asks “What theories do you believe?” Mish Reading List.
Those who believe in the absurdity that a benevolent government would spend the money wisely, cancel all the debt or pay interest to itself and everyone will essentially live happily ever after, seriously needs to investigate my reading list.
By the way, MMT cannot possibly be correct for a reason I have not heard anyone else state: It’s based on fraud.
Mish continues to display arrogant ignorance. He is actually a pretty savvy guy in other ways. I used to read him and assumed that he would overcome his Austrian bias eventually and grok MMT. Nope.

Bitcoin is real currency, USD fraudulent, you see.

Mish is implying that  portfolio cash saving should be switched from the USD into bitcoin as a safer haven?

Just who is being foolish here?

Bitcoin vs Dollars: Which One is a Fraud? Which One is a Ponzi Scheme?
Mike “Mish” Shedlock | Sitka Pacific Capital Management,Llc


Salsabob said...

You're expecting Mish to not play his book?
Silly you.

Dan Lynch said...

What Tom said -- Mish is good on some subjects but not others.

Tom Hickey said...

Otherwise good minds can be blindsided by ideology regarding some matters.

Matt Franko said...

He's rallying along with the recent self-healing discovery about gold....

GLH said...

Does MISH pay his taxes with bitcoins? Quit reading his BS a long time ago.