Goldtent TA Paradise

The Basics of Modern Money

1. JSKauai says:

   April 5, 2020 - 1:05 pm at 1:05 pm

   Oh yes, what a wonderful concept. How about allowing all US coinage to be used as currency including bullion coins and let the market decide what they prefer. !st step remove all forms of taxation both state and federal and modify legal tender laws to allow them to compete with federal reserve notes.

2. YYZ says:

   April 6, 2020 - 4:33 am at 4:33 am

   Remove the fact that currently the USD is the world reserve currency and the points this video makes are baseless (look at Japan, EU and every other non-reserve currency econ performance over past decade – race to the bottom). The current value of holding cash is practically zero (as designed by MMT) – raise rates, crisis, drop rates, raise rates, crisis, drop rates until hits zero – see FRED fed funds rate chart), so of course cash is increasingly best put to use in this environment by buying stock, cars or real estate – what happens when an ill wind (corona) blows though, most have no liquidity (safety net) except to sell assets which are a whole lot less liquid than cash (where we are right this minute). This video has a destructive and deceptive narrative IMO – gov’t debt has no consequence …. really – we are going to find out very very soon. Why aren’t other countries using MMT with as much ‘success’, their currency (not the world reserve currency) is worth less and less over time (how is NIRP working to revitalize EU or Japan)? Look at the Japanese stock market since it went bust and the fact that their gov’t practically owns their financial markets – is that a success? The achilles heel to capitalism and free markets is debt. Case study #1 US millenials drank the free (zero consideration as to ability to repay) $ coolaid (student loan debt) the dems put into law during the response to the ’08 crisis, and now their ‘salvation’ is …. drum roll – Liz Warren and Bernie’s debt forgiveness plans (Biden just won’t admit it just yet) – votes for $ pretty simple. Similarly if your goal is to enslave (and effectively destroy) an economy and society for that matter, following the rational outlined in this video is the ticket. No thank you.