Thread by @sdgrumbine

All Federal spending is NEW MONEY. All Federal Taxation is the deletion of money. Have to repeat this all the time to make it stick, but the fact is money isn't created then spent. It is spent INTO existence. It's not sitting in a vault. Nor is it sitting on a Brinks truck.
#MMT

Why does this matter? Our money is democratically "created" when Congress, via Article 1 Section 8 of the US Constitution, authorizes spending. Banks dont create it, load it on a pallet and lend to the Federal Government. The real question is who does Congress serve?

It should absolutely disgust you how our education system has failed us as millions of libertarians and conspiracy peddlers say the *private federal reserve* (code for lemming treats) just arbitrarily "prints money". The great lies meant to confound and they have been successful

The problem is they attempt to render the government weak and feckless to stateless banks whilst ignoring the power of the state to to great things. We allow them to whittle it away with lies and deceit and worse, some red browns carry the water for capital.

The state has the power over its own currency. It isn't powerless, it is collaborating with global capital. It's not the state per se... It is the charlatans and puppeteers on the take for global capital.

If you only follow oped YouTubers with zero analysis, you will end up chasing phantoms. We need more than discussions. We need education and organization far beyond phone banking and door knocking. We need to build shadow systems and parallel institutions to combat this.

We must be humble enough to learn
To become vociferous consumers of historical perspectives and theoretical frameworks so that should we be able to topple this juggernaut, we will have our society prepared to move forward and rebuild appropriately.