Modern Monetary Theory — Same Old Federal Reserve Nonsense

Authoritarians always rely on “intellectual” justification when selling their schemes to the public. This is why you constantly hear the term “experts say” before your liberty and property are taken from you. Democratic Socialists have been latching onto “Modern Monetary Theory” in order to justify their takeover of American life. Ron Paul discusses on today’s Liberty Report!

Original Youtube video here.

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David HarrellMr. Game & WatchDeltellyJacquethomas keene Recent comment authors
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David Harrell
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Although we very much need monetary reform, MMT folks would do better to focus on wealth flow normalization — stopping money and wealth being redirected to nonproducers – which also figures into the inflation that inevitably swallows up the new money almost as soon as it is printed. I submit, the geolibertarian solution accomplishes that because it addresses the fact the major site where inflation occurs is: sites… i.e., land sites. Yes it occurs after money is created by the banks. But why are the banks expanding money? Mainly for purchase of real estate. The part of real estate that… Read more »

Mr. Game & Watch
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The only option at this point is a violent revolution.

Deltelly
Guest

Anyone know what reason they give for trying to decouple money/currency from the commodities markets? I guess they justify it somehow.

Jacque
Guest

Here is a video that explains MMT: https://www.youtube.com/watch?v=GXjWeucTyFU
Couple of points: the government debt is the public sector savings, the government doesn't need taxes to pay for things since they can create as much currency as they need, the main goals are to a. low unemployment and b. price stability. You have to admit the unemployment is low and prices are stable. Most financial transaction are electronic as in credit cards and bank transfers over the Internet. Thus gold or any physical metals is not practical.

thomas keene
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crazy gov programs fed this fat asses parents and grandparents….libertarians on economics sounds more like anarchy…every man for himself…ask ayn rand how that worked out for her….dying on welfare had to be quite an eye opener for her

Kevin Wayne
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In point of fact, nobody is "taking what is not theirs to take," because it ain't YOUR money to begin with 🙂

Kevin Wayne
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comment image The government has 100% every right to charge you for services rendered. Did you use the bathroom today? Switch your lights on? Drive down a road to the supermarket? You just used a service~! The only exception is if you have a prior agreement with the government that you're too poor to day. Otherwise, money is spent INTO the economy and taxed back OUT of it, and the Constitution gives them the right. Funny how Libertarians forget that part of the Constitution when it doesn't serve their interests 😉

Kevin Wayne
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Here's where Ron Paul goes off the rails stoopid: https://www.youtube.com/watch?v=R1fxViS5guA&feature=youtu.be&t=165 It has NOTHING to do with having more money to pay taxes. Tax cuts have ALWAYS been a Keynesian move, because the idea is to get the money in the hands of the people so they can spend it into the economy. MMTers actually have lively debates over whether or not we should "tax the rich," because in theory, it's not necessary. You would know this if you spent any time reading their writings & taking to them.

Kevin Wayne
Guest

LMAO: "The intellectuals." "the university professors *cough* *wheeeze* Senility has set in, and he has no clue what he's talking about 😀

Kevin Wayne
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Japan has been deficit spending for ages, and has 2% unemployment, low low inflation & an annual growth of real GDP. Not too shabby.

Kevin Wayne
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There is NO *adopting* MMT. So-called Modern Monetary theory IS how our monetary system works.

Kevin Wayne
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Joe Rathwell
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Dr. Paul you just suggested the stock market is good. In my experience I have never seen a stock market work like this one has. This stock market is being falsely held up by the powers that be. If this was a free stock market it would have been left to organically cycle as it should so history could repeat itself. They say inflation is around 2-3% I beg to differ, try easily 7-10%. The globe is being scammed. Just my thoughts

Jahh Cobb
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I believe our country is being used by some kind of elites to spread their agenda and make them richer while our country foots the bill both morally and financially.

Nick Delonas
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Holy smokes. Did you halfwits actually read any MMT? You don't know what the hell you're talking about. Remarkably shallow. Vacuous, ignorant commentary.

Dea hagalaz
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After all of these years poor Ron does not understand what the government deficit is. He is not an economist, but too many doctors believe they are God and know everything anyway. The government deficit is the non-government sector's surplus. So his solution to provide the private sector more money to pay their taxes is to give them less money. SMDH. I really wish he would just go away.

Learn MMT
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Neoclassical economics is the most deceptive. Today's economics students and graduates have been done a terrible disservice by not learning the truth about economics.They are not taught pluralism, economic history, nor do they discuss money, debt or banks! “…If you look at mainstream economics there are three things you will not find in a mainstream economic model – Banks, Debt, and Money. How anybody can think they can analyze capital while leaving out Banks, Debt and Money is a bit to me like an ornithologist trying to work out how a bird flies whilst ignoring that the bird has wings…”… Read more »

Learn MMT
Guest

Neoliiberalism is a dead ideology. The era is over The 40-yr. Wall St/capitalist revolt:"The bank strategy continues: “If we can privatize the economy, we can turn the whole public sector into a monopoly. We can treat what used to be the government sector as a financial monopoly. Instead of providing free or subsidized schooling, we can make people pay $50,000 to get a college education, or $50,000 just to get a grade school education if families choose to go to New York private schools. We can turn the roads into toll roads. We can charge people for water, and we… Read more »

Learn MMT
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"Haven’t you people done enough harm already? We have narrowly avoided a global depression and are mercifully pointed toward merely the worst recession in a long while. This is thanks to a global economic meltdown made possible by libertarian ideas. As with any failure, inquest is central to improvement. And any competent forensic work has to put the libertarian theory of self-regulating financial markets at the scene of the crime."

https://slate.com/news-and-politics/2008/10/how-the-financial-collapse-killed-libertarianism.html

Ernest Jones
Guest

Thanks for talking about Modern Monetary Theory.
But
Please learn a bit more about it. People that understand MMT can tell you don't know what you are talking about.
Specifically
One thing you state incorrectly is about the debt. MMT actually shows that the national government debt is never a problem if it is in the government's own currency and if the government is sovereign.

News English Potatoe
Guest

1. What's the difference between handing out food coupons and money?
2. If the government hands out money, why should I work harder ?
3. Is MMT a form of socialism ?

Martin Moulton
Guest

Acting like AOC is significant ignores the majority of corporatist Ds who keep her and Bernie Sanders in check and gives her silly rhetoric more oxygen. The USgovt military, per Milton Friedman et al, is one of the most successful and expensive "socialist" schemes in the world and it's supported almost unanimously by Ds, Rs, Is (and notably AOC is not a big critic of the MIC).

Kaivey
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The red states get subsidized by the blue states.

Crouching Wombat hidden Quoll
Guest

Millionaires and billionaires should pay same tax rate as workers. Creative accountants need jail time

Douglas Stejskal
Guest

scam/SCAM/scam/SCAM. Nowadays EVERYTHING is a scam.

ElijahJohn888
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Spiritual speaking the ONLY thing that that really matters is whether u are TAKEN UP or LEFT BEHIND aka Saved or Un saved. If u reject this u are either a FOOL or Spiritually ignorant aka Blind to what's HAPPENING in the Un- seen realm & the forces @ play/work ~Maranatha~