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, December 22, 2018
Yes Minister — Why Britain Joined the European Union
Q. If the UK government can create its spending money out of thin air, then why did the UK join the EU?
A. Because the UK government ignores or obeys EU dictates on a case-by-case basis, as determined by the needs of elitist oligarchs. This freedom would not be possible if the UK had adopted the euro currency. Indeed, the UK would instantly become much worse than Greece if the UK adopted the euro, since the UK’s trade deficit is worse than all EU nations combined.
Also, since the UK government can create infinite pounds sterling, it can bribe EU nations to do the UK’s bidding as determined by rich UK elitists. Everything is designed to continually widen the gap between the rich and the rest.
This brings up something I have said before.
ReplyDeleteQ. If the UK government can create its spending money out of thin air, then why did the UK join the EU?
A. Because the UK government ignores or obeys EU dictates on a case-by-case basis, as determined by the needs of elitist oligarchs. This freedom would not be possible if the UK had adopted the euro currency. Indeed, the UK would instantly become much worse than Greece if the UK adopted the euro, since the UK’s trade deficit is worse than all EU nations combined.
Also, since the UK government can create infinite pounds sterling, it can bribe EU nations to do the UK’s bidding as determined by rich UK elitists. Everything is designed to continually widen the gap between the rich and the rest.