Thread by @sdgrumbine

PERSON A: Can you tell me simply what MMT is all about?

ME: Sure, it's a description of how money comes to be and how it flows in a modern economy from cradle to grave.

1/x

PERSON B: Well, you didn't tell me anything we didn't already know... the government is broke because we are all out of gold, and now the government has to borrow money from private banks and China and we are passing debt to our kids because of wars for oil

and private banksters at the Fed have enslaved us... haven't you watched that Zeitgeist movie on Netflix...?

ME: Uh, yes... I have seen it and well, actually MMT shows us none of that is true and that we have a sovereign,( meaning it our government's unit of account of which we are the money monopolist, ) free floating (meaning we have not attached or 'pegged' the value

to an external commodity like a certain weight of gold) non-convertible (meaning you can't force redeem or exchange/ convert your money into a certain weight in gold) fiat currency (meaning it is issued by decree of the sovereign issuing authority such as the US Fed Gov

more specifically Congress who, by Constitutional Authority granted from Article 1 Section 8 of the US Constitution gives the power of money creation directly to them for the purpose of serving the general welfare of the people, aka the public purpose)

PERSON A: well that sure was a tasty word salad, the problem with you MMTers is you can't say it so we understand, that's why I like Zeitgeist it was a 2hr 3min tour d' force of entertainment

and so much easier than your long winded explanation that is so over all of our heads, you must feel like such a smart guy. The people will never understand that. Why cant you keep it brief like the 2hr 3min Zeitgeist nailbiter... it's fun, its scary and man they dropped some 💣

PERSON B: Yeah... all that MMT stuff sounds fine in theory... but it's just a government psyop and it will cause hyperinflation because you just print buckets of money... have you ever cracked an economics book before, dude? It's like you're in a cult...

have you ever heard of Zimbabwe or Weimar Republic? (Laughs smugly) it's working great in Argentina and Venezuela... you guys need to learn about the value of money. You can't just print wealth. What are you gonna do? Print more money??? (Smug laugh again)

ME: well, actually we don't just print more money, government spends money into existence and taxes some of it out of existence. They simply have Congress pass a bill & give orders to the Fed, the nation's central bank, to make deposit into the Treasury's accounts from scratch...

and spend that money on real goods and services to help provision itself. By issuing a tax, payable only in the government's currency, it (as the money monopoly issuer) keeps the value of that currency (dollar) at whatever the government deems it desires it to be.

It accepts 1 dollar to settle 1 dollar of tax liability. It then deletes that dollar or shreds it or otherwise destroys it when it is received as a tax. Tax do not actually get reused. They are spent once by the government and deleted when they are returned as a tax.

It's the REAL RESOURCES that serve as our limits to spending... inflation as the real constraint based on demand outpacing the availability of products, services etc. It has nothing to do with money growth.

PERSON A: Dude, I said make it simple... you need to watch Zeitgeist and learn about the coming disaster from the end of the petrodollar and watch <insert random alt media person ality>, he tells us all how hopeless everything is.

You're forgetting the fractional reserve system and what about Libya and Gadaffi? You know the Rothschilds own us. Agenda 21 is going to make us slaves to a New World Order.

ME: look, I know this 2 hr 3 minute masterpiece you keep referring to is short, concise, easy for you to understand but it is almost entirely wrong and based on economic fallacies that are preventing us all from advancing society and more specifically a progressive agenda.

Here are some easy to read memes, quick links and short videos I will leave you with....

(PERSON A and PERSON B interrupt)

Man, this MMT stuff is stupid and it's a cult. Always leaving your memes and links and no one reads them anyways... did we tell you about <insert random youtuber> and Zeitgeist?

We all are gonna die from private banksters dude... we need a resource based economy yeah and that MMT psyops nonsense is just stupid, I'm unfollowing you. Hey everyone stop following the psyop cultists. Bitcoin is the future, man... why are these MMTers so rude?

ME:...😳😳😳😳😳😳😳😳😳

Folks... the above happens almost every single day. Every. Single. Day.

If you actually want to learn what MMT is, lets talk.

There are a lot of GREAT resources out there. But you have to be willing to read a few links, watch a few videos and dump the pretense that the Zeitgeist movie or the tales told by many of your favorite alternative media people are the path to truth and just be open to learning.

10 quick points by Professor Stephanie Kelton


Modern Money Basics


7 Deadly Innocent Frauds of Economic Policy by Warren Mosler
…conomics-kg5winhhtut.stackpathdns.com/wp-content/pow…

realprogressives.org/mmt-basics/