They’re robbing citizens blind because they actually understand that our government creates our currency by entering numbers on a computer keyboard

I mean, they get this, even if they don’t get much of anything else.

youtu.be/i3lkKd1xzoI?...

🕷️ 👀

The UK creates its own currency, owns its own central bank and doesn’t have any foreign denominated debts.

So taxes just help regulate inflation & inequality by removing excess government spending from the economy.

You still have to deal with bank created credit money.

James Galbraith was run out of Washington during the Clinton administration because he said that a government surplus creates a private sector deficit

www.thenation.com/article/arch...

Provincial governments don’t create the currency

So if you want them to pay for big things, then they need to use sub federal public institutions to create parallel community currencies. Which I think is a very good idea anyway

MMTers always say that nobody fully understands inflation

I kinda like that humility

And also think MMT has the most well thought out approach to inflation

The small group with @moneyontheleft.bsky.social is doing great work on community created public money which I think is very important

I agree with you.

Which is why I tend to focus on reclaiming FDR’s Economic Bill of Rights.

And emphasizing that when our government pays for our economic rights (healthcare, education, etc) we don’t have to take out bank loans to do so.

Including by reducing bank lending, targeted price controls, issuing non-negotiable household savings bonds, etc.

ftalphaville.ft.com/2019/03/01/1...

Actually, MMT says evaluate every spending proposal for its potential inflationary impacts & include appropriate tax in the legislation if needed.

But, eg, since single payer healthcare is deflationary, you don’t need to increase tax.

Also, lots of other ways to address inflationary pressures ….

Well, we really should increase taxes on the wealthy because democracy

And we should properly regulate banks to help regulate inflation