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.
That's one significant factor. There were others, e.g., having to do with empire. In fact, arguably mostly to do with empire.
The British elite and to some extent the French are still in that mindset and try to shape the world accordingly with the assistance of the US, and in the case of of the British with Five Eyes.
It's not really the American Empire now as much as the Anglo-American Empire.
One consequence of government privileges for private credit creation is that the US economy runs on private bank deposits, not on fiat*.
That frees up a lot of fiat with which the banks can drive foreigners into debt too.
So to the extent one favors government privileges for the banks, one also favors US meddling in foreign affairs - in addition to oppression of the poor domestically.
*except for the relatively small amount of coins and Central Bank Notes (FRNs) in circulation.
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That's one significant factor. There were others, e.g., having to do with empire. In fact, arguably mostly to do with empire.
The British elite and to some extent the French are still in that mindset and try to shape the world accordingly with the assistance of the US, and in the case of of the British with Five Eyes.
It's not really the American Empire now as much as the Anglo-American Empire.
One consequence of government privileges for private credit creation is that the US economy runs on private bank deposits, not on fiat*.
That frees up a lot of fiat with which the banks can drive foreigners into debt too.
So to the extent one favors government privileges for the banks, one also favors US meddling in foreign affairs - in addition to oppression of the poor domestically.
*except for the relatively small amount of coins and Central Bank Notes (FRNs) in circulation.
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