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Zamir's avatar

The UK wants to imitate previous American administrations by cutting takes and increasing spending, financed though borrowing. The error is the USA is backed by the petrodollar which makes the dollar the world currency. The £ has no such backing.

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Steve Hummel's avatar

The whole system is designed for Finance to remain a "Colossus bestride the world". It's bad enough that private finance has a monopoly on the creation of the life's blood of every economic agent, namely money, but it's insane that they are allowed a monopoly paradigm on the sole form and vehicle for its creation and distribution, namely DEBT ONLY.

If MMTers want to be serious about dealing with inflation and thus enabling fiscal deficits (monetary gifting to government agents) they will have to consider integrating monetary gifting DIRECTLY into the economy and the individual via a 50% Discount/Rebate policy at retail sale and the rest of the policy program of the new paradigm.

https://www.amazon.com/dp/B07PLNJLRN/ref=sr_1_1?keywords=wisdomics-Gracenomics&qid=1552358772&s=books&sr=1-1-catcorr

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