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Cake day: June 24th, 2023

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  • I see what you mean, but this is not about having a strangle hold on the world or being the world’s reserve currency. This is about having your own currency and collecting taxes in this currency. As long as a country collects taxes in its own currency there will be demand for that currency.


  • Okay, but even if the USA can’t change the law regarding states bonds, it is virtually impossible that people stop buying US states bonds since the US Dollar is kinda like the most established currency in the world.

    So your argument is completely theoretical.



  • Then stop selling bonds and start investing directly (build schools, repair bridges, pay your employees, etc.).

    Countries don’t have to take the detour through state bonds because they can make money out of thin air. State bonds are a self-imposed and there’s no law of nature that mandates using them.


  • They seemed to think that tax revenue in some way has to happen for spending to happen.

    Noo!

    But the federal government creates money ex nihilo.

    Yes!

    Money has to be created before it can be destroyed through taxation.

    Yes!!

    We do not rely on the money of the wealthy. What matters is actual, real resources and services we can provide.

    Yes, yes and yes!! ❤️

    Thanks for your concise explanation of MMT! I wouldn’t be able to phrase it this well. ❤️











  • Sockenklaus@sh.itjust.workstomemes@lemmy.worldSomeone copied their homework
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    3 months ago

    Black Swan is about a ballet dancer who, driven by the demand to perfectly play the lead role in Tchaikovsky’s Swan Lake, descends into madness.

    It’s with Natalie Portman and a truly amazing movie. I absolutely recommend watching it, even when you’re not into ballet.

    Edit: To be honest just watch Joker too. It tells the story of Joker becoming the Joker and Joaquin Phoenix did an amazing job playing the role. It’s completely different from any DC / Batman movies and probably not what you’d expect from a movie that plays in this universe.

    Both movies are great psychothrillers.