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@bitgit
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a voice in the weeds
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@bitgit
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@bitgit | a voice in the weeds @bitgit a voice in the weeds Home About RSS #MMT 03 Oct I feel I have to write something about #MMT, that’s Modern Monetary Theory. I was recently given link http://neweconomicperspectives.org/2014/01/diagrams-dollars-modern-money-illustrated-part-1.html I don’t get all of it (but I understand systems and I see the system) Must also read link http://neweconomicperspectives.org/2014/01/diagrams-dollars-modern-money-illustrated-part-2.html I want more to read this and “get it!” because it is very important that we do not misunderstand it. Very serious misconceptions are currently causing great suffering. We have to re-evaluate our relationship to money, whether we use it, or it uses us. And we must recognise that we choose our value ratio of society vs money, directly by how much we distribute from it’s source [central banks, government] We have a “fiat” currency. There is no gold standard. “the paper is worth what it says it...
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