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Andrew BuckleyThe most pernicious case of this with regards to MMT is their definition of money creation, and how they carefully (almost dangerously) distinguish it from bank credit. It's this financial asset thing again. Their take is that only the government can create money, because bank loans create no net ...

December 2014

montmorencyI have posted this in another thread, but it seems relevant here:http://www.monetary.org/wp-con..."A Discussion of Modern Money Theory and New Currency TheoryPaper prepared for the American Monetary Institute's 9th Annual MonetaryReform Conference, Chicago, 19–22 September 2013Joseph Huber"It comp...

December 2014

Captain AmericaOf-course money spent on taxation is redistributed within the economy. It is debt-based money gong round and round....

December 2014
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dannyboyOoops sorry I just re-read your post. I see you are saying that draining reserves prevents rises in house prices etc... and hence is a good thing. That said, I still object to your premise that deficit spending is the way forward. Why can't a *sovereign* government issue its own debt-free money t...

November 2014

dannyboyYou say "this is a good thing as if it stays in the economy it will push up house/ share prices" which I think most people (who aren't share holders or outright property owners... ie the majority of the population) would contest.The point of PM's sovereign money proposal is that there is no need for...

November 2014

RJIt is good to see that some posters are trying to explain what QE is in the comments...

November 2014
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RJMaybe re fear. Although I think many in Govt just don't understandBut now Govt debt increases is becoming critically important. The question that should be asked is1 Can a monetary sovereign Govt like the UK spend what they want in excess of any tax take. The answer is yes.2 Should they. The answer ...

October 2014

Fran GriffithsPerhaps the new financial education requirement in schools will lead in time (probably a long time) :) to a more economically literate population ànd then we can have a more open discussion about what we can ànd cannot afford....

October 2014

Fran Griffithsin the background when economists ànd politicians talk about the importance of a balanced budget and the dangers of printing money.However this account misses out one important feature of this ànd other hyperinflations. Germany was paying two thirds of its production in war reparations. The money ...

October 2014
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Alan D'ArcyI've read the letter and the four comments it elicited. From the views and opinions held in three of these response it appears that the good works carried out by yourselves, NEF, James Gibb Trust, COMER and such-like are simply ignored by so many "informed" people. There are none so blind as those t...

October 2014

RJThe UK Govt does not borrow money. It creates new reserves by JE whenever they spend. We borrow money from the banks (created by the banks by JE) if we are credit worthy and have to pay it back at the banks interest rate. State Govt borrow money as well as do Euro countries (from banks or the market...

October 2014
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simonthorpeYou can petition the producers of 'In our time" herehttps://ssl.bbc.co.uk/programm...Here's what I have just told themOver 30,000 people have signed up to the Positive Money movement. They have been arguing, very coherently, that virtually all are current problems can be traced back to a totally bro...

October 2014

simonthorpeWhy Dutch television? Why on earth can't th BBC do this too?I note that BBC radio 4 is proposing to do a Listener Week in November, with 3 programs that will present ideas proposed by listeners - Woman's Hour, In Our Tme, and Saturday Live.http://www.bbc.co.uk/blogs/rad...Isn't it the right moment t...

October 2014
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