Loading ...A Case For Government As A Borrower To Limit Tyranny
Interesting theory. I never thought about the comparisons the author details, but have long felt all taxes should be abolished. He explains the benefits in a unique way. One big problem he doesn’t address in this piece. If the government went this way, with all revenue coming from the people as lenders rather than as tax slaves, a CBDC would end the peoples (collective marketplace) ability to choose which projects get financed. The government will just take as much as they want, for whatever they want. So instead of the current tax system, which at least puts some modest restraint on govt. spending, there would be none. Not that the author’s points are incorrect, just that a CBDC would render them moot. https://www.zerohedge.com/markets/case-government-borrower-limit-tyranny
Quick skim, but this looks like MMT.
End taxation, let governments borrow at will, and “nirvana”.
Well, Brandon & Co. just did that here in the States, and nirvana is nowhere to be found.
The “Law of Unintended Consequences” showed up, and with more currency unit demand created by government spending, underwritten by Fed bond purchases (official sector counterfeiting), we have prices through the roof and LESS FOR EVERYONE, but more for the Looters In Chief Within The Beltway.