Some of the nity-gritty involving payments systems that underlies some institutional arrangement needed to understand MMT's analysis.
Bond Economics
Wholesale Payments Systems and Bank Reserves
Brian Romanchuk
Some of the nity-gritty involving payments systems that underlies some institutional arrangement needed to understand MMT's analysis.
Bond Economics
Wholesale Payments Systems and Bank Reserves
Brian Romanchuk
22 comments:
They already understand it and have understood it for centuries. They just choose to ignore it for geopolitical reasons and decided to walk a different path.
Best video I have seen in the last 20 years why MMT will never be won in a classroom.
Here:
https://m.youtube.com/watch?v=mnm9Vzrpkrg
The huge mistake MMT'rs always make is that we just need to teach these people until they understand MMT. When the truth is that have always understood it. MMT'rs fail to grasp why Monetarism was introduced and What was its real purpose and geopolitical goals.
Their game is up. The rest of the world are onto them. Kazan next month and the BRICS meeting might change the world we all knew and recognised growing up and be a defining geopolitical moment. Just like the fall of the Berlin wall was and everything that came after.
Many markets have changed and going to be changed moving forward. There's no stopping it now. We are way beyond the point of no return.
This happened in Sept 2021.
https://threadreaderapp.com/thread/1437473538626277377.html
My guess is, I think this is what has just happened in 2024.
Why ?
https://threadreaderapp.com/thread/1613140403598802950.html
Trump wants lower prices ?
With a strategic reserve of 900 million Barrels. For every $1 China prevents the market going up will save them $900m.
If they keep prices around $75 for Brent then they will save $9bn if they stop the market reaching $85 a barrel.
No way Trump wants lower prices. If he stands any chance of competing with China. Never mind the shale guys screaming blue murder.
Everything has changed geopolitically now China is the swing demander. BRICS will strengthen their position further.
Keeping a close eye on what comes out of Kazan next month will paint the picture moving forward.
Meanwhile Brian is trying to teach these people who created these balance sheets in the first place - How to read them.
" Bangs head on table, walks into kitchen swearing at oneself "
The world passed Brian by at least 40 years ago. These people who created these balance sheets know fine well how they work. They just use them for a different purpose. To support their geopolitical ideology. Brian might as well be howling at the moon.
The target audience for teaching MMT is ordinary folks. Without an educated electorate, democracy is a sham.
Judge Nap shilling for gold. Priceless.
Just agree to a price ceiling for oil. To hell with supply or demand. The laws of physics don't apply to energy or economics.
Price cap will never work.
Payments would be separated etc. to beat the cap if it was above the celing.
It was also obvious that you try to restrict shipping that workarounds such as selling old vessels to would happen.
That If insurance became a threat then India/China/Russia would provide their own.
The west thought because of their dominance of shipping and insurance they had the power. This is the oil market. The traders have the power not the government.
Secondary sanctions on friendly banks would have geopolitical consequences and a higher oil price. Stopping vessels in the straits of Bosporous and Denmark would be illegal.
There are hundreds of work arounds. So it is a dead duck.
Try to induce Saudi Arabia to pump more. That is not going to happen.
They are all shilling for gold the amount of money thrown at social media and alternative media is simply astronomical. The battle is to control the information space.
Another reason why MMT will never stick.
Explained beautifully here using actual government policy and historical documents.
https://m.youtube.com/watch?v=g2ysbcpdado
Price cap won't work yet you post a thread insisting that China will act to lower prices. This is the same effect by a different name.
Peak oil has already occurred with regard to conventional, only a matter of time until the other shoe drops. Will prices reflect reality at that point, or will traders have the power to continue the fantasy of cheap oil?
They are shilling because they are shills. They warn about the end of the world, but don't really believe it.
Philippines: another US colony. Europe with slums.
They can only lower prices every now and then not permanently. Full up their strategic reserves at lower prices.
Without an educated electorate, democracy is a sham.
Here:
https://m.youtube.com/watch?v=g2ysbcpdado
So how do you get around what is happening in your universities and when your information space is controlled by foreigners?
It is what I have been saying For over a year now. The only option you have is to kick them out of your country and become ever more authoritarian yourselves.
You're wasting everyone's time by linking to Brian Berletic, who is yet another shill. The Philippines are a US colony who've been ruled by stooges for decades. They were once ruled by Spain, invaded by Japan, and liberated by the US. They're on a path distinct from the "Rise of Asia" that Berletic and his fanboys go on and on about.
Philippines: another US colony.
Just like Canada and the UK.
Very few countries now control their own information space or what is taught in their own university's. The ones that do you can see very easily, they are more authoritarian and have to be to keep foreign influence out of their politics.
The world we now live in it is the only way.
We now even have " fact checkers " to ensure the foreign bull shit that now controls our information space is passed as truths. Even though 99% of It is a pack of lies.
It is what BBC Verify is all about. The role it now plays in British society.
Canada is a colony but we're not suffering because of it. Russia can become a colony of Asia and they will prosper. It's simply a matter of having a small population in a large country with natural resources. Enjoy that position while it lasts.
So a majority of folks are followers, prefer to run with the herd, and will believe what they are fed. Hasn't stopped efforts at educating or awakening the public.
Napolitano is an economic illiterate. When I worked at Fox I tried to educate him so many times. He wouldn't hear it.
“so simple mechanistic stories about “more reserves means more transactions” represents misleading folklore”
It’s not “folklore” (figurative language) its a serious cognitive defect of reification…
“ They already understand it and have understood it for centuries”
Keep dreaming….
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