What, Warren Mosler omits is: every unit currency created, devalues the existing currency of the same denomination. Availability or currency liquidity always filters through the economy ultimately because more currency is spent be it by purchase, hiring, government spending, etc.
It is that 'availability' that provides more currency for existing goods/services/resources. The more money available, the more that will be spent. That ultimately will raises prices, boom vs. bust (deviation).
the shadow bankers of this great country created TRILLIONS of dollars in new (debt)money, during the last ten years without any apparent impact on the "value" of the currency. (procyclical)
no complaints there, for some reason.
Those TRILLIONS were in addition to the total of commercial bank loans for the rest of the world we all live in.(BAD !)
Additional currency created for payments of additional goods and services is neither inflationary nor devaluing.
You have great strength of character and an ability to withstand inhumane treatement; that is to say, I can't get myself to watch CNBC for more than a few seconds--just long enough to realize it is CNBC and frantically change the channel.
CNBC = Sach the middle class propoganda. Period. They are primarily responsible for the state of the world. I can't stand to hear a single syllable from any of their scummy mouths.
I think the guy is talking about a totally Fiat Money. One that is just created (printed, just on a computer) which is not backed/supported by an IOU. Its honest quantitative easing. It could well work for a few years.
You probably dont remember MM but its very much like "For Us, The Living" by R. A. Heinlein (1938). Money is created and given to the people.
All this is so frustrating, I want to hit someone. Destroy wealth to force participation in the economy? Is everyone in love with inflation these days? All wealth calculations in constant flux, subject to an unelected central committee? More and more I feel no one is qualified to pull the levers of the economy. The amount of central control these guys are talking about will create an infinitely powerful ruling class of bureaucrats and technocrats.
This goes to your points the MM channel. With no tangible commodity basis for money, transactions, debt, etc. is just ledger entries. My interpretation of Mr. Mosler's plan is make ledger entries crediting people instead of banks. How this would impact the financial system's cedibility, would be the next question. Once people saw how contrived this system is, they might not want anything but a tangible asset based system, which they think they have now.
I took it to mean they want a central bank to credit individual states, not individual banks or people. That state would either hand the money over to their banks or fund social or infrastructure programs as they see fit.
You are right in the mechanism he described in this vid (in which he was given about 2 min of actual talking time to explain a complex concept, making it tough for me to watch). I looked into him a little more, seems he is running for President and Congress as well. In a campaign speech he talks about crediting the people directly, but didn't elaborate on how, probably as he said in this vid.
Interesting concept, I don't understand what would motivate people to work/take risk in it though.
I'v bought loads and loads of seeds, and they are going to be very, very, expensive to all you gold and silver Hoarders. one apple and a loaf of bread one ounce ( gold) Broccoli (one once silver ) Sprouts ( Free )
i feel the Real Issue ... is to stop feeding the machine ... real freedom is being able to grow your own food, cotton for your clothes, etc. it's not that hard .... u just have to be ready to give up the illusion ... if enough of us stop feeding the 'machine' it will stop running ... i did! if you're interested ask me & i'll tell you .... because whether you can see it or are ready for it ... the playing field is about to be leveled ~* prepare ;)~*
Something for nothing. My, what an original idea. What a great big shell game!
BabyHominid 1 year ago
Dr McHugh at Technical Indicator Index has been talking a very similar thesis for at least two years!Leads to trickle up.
justjacqueline2004 2 years ago
What, Warren Mosler omits is: every unit currency created, devalues the existing currency of the same denomination. Availability or currency liquidity always filters through the economy ultimately because more currency is spent be it by purchase, hiring, government spending, etc.
It is that 'availability' that provides more currency for existing goods/services/resources. The more money available, the more that will be spent. That ultimately will raises prices, boom vs. bust (deviation).
drchiodo 2 years ago
seems questionable, in real terms.
the shadow bankers of this great country created TRILLIONS of dollars in new (debt)money, during the last ten years without any apparent impact on the "value" of the currency. (procyclical)
no complaints there, for some reason.
Those TRILLIONS were in addition to the total of commercial bank loans for the rest of the world we all live in.(BAD !)
Additional currency created for payments of additional goods and services is neither inflationary nor devaluing.
EconomicStability 2 years ago
Gott im Himmel...
Die Mark wacht auf !
waldentree 2 years ago
Nick,
You have great strength of character and an ability to withstand inhumane treatement; that is to say, I can't get myself to watch CNBC for more than a few seconds--just long enough to realize it is CNBC and frantically change the channel.
CNBC = Sach the middle class propoganda. Period. They are primarily responsible for the state of the world. I can't stand to hear a single syllable from any of their scummy mouths.
JejuLee 2 years ago 2
Debt wrong!
qminusis 2 years ago
It's all about the interest.
SpringboardShop 2 years ago
Psychobabble rap from all sides.
Love your efforts, Nick. Thanks much.
Airave 2 years ago
I think the guy is talking about a totally Fiat Money. One that is just created (printed, just on a computer) which is not backed/supported by an IOU. Its honest quantitative easing. It could well work for a few years.
You probably dont remember MM but its very much like "For Us, The Living" by R. A. Heinlein (1938). Money is created and given to the people.
The problem are:
Inflation, of course
Dollar no longer being world reserve currency
Import become costly.
zimbabwe
nkey01 2 years ago
You may be interested:
The Money Masters (Part 1 of 22)
watch?v=lXb-LrVkuwM
nkey01 2 years ago
All this is so frustrating, I want to hit someone. Destroy wealth to force participation in the economy? Is everyone in love with inflation these days? All wealth calculations in constant flux, subject to an unelected central committee? More and more I feel no one is qualified to pull the levers of the economy. The amount of central control these guys are talking about will create an infinitely powerful ruling class of bureaucrats and technocrats.
UnhappyTestTubeBaby 2 years ago 2
This goes to your points the MM channel. With no tangible commodity basis for money, transactions, debt, etc. is just ledger entries. My interpretation of Mr. Mosler's plan is make ledger entries crediting people instead of banks. How this would impact the financial system's cedibility, would be the next question. Once people saw how contrived this system is, they might not want anything but a tangible asset based system, which they think they have now.
NAVYGOLDEIGHTFOUR 2 years ago
I took it to mean they want a central bank to credit individual states, not individual banks or people. That state would either hand the money over to their banks or fund social or infrastructure programs as they see fit.
I'm with you on the tangible asset based system.
UnhappyTestTubeBaby 2 years ago
You are right in the mechanism he described in this vid (in which he was given about 2 min of actual talking time to explain a complex concept, making it tough for me to watch). I looked into him a little more, seems he is running for President and Congress as well. In a campaign speech he talks about crediting the people directly, but didn't elaborate on how, probably as he said in this vid.
Interesting concept, I don't understand what would motivate people to work/take risk in it though.
NAVYGOLDEIGHTFOUR 2 years ago
I'v bought loads and loads of seeds, and they are going to be very, very, expensive to all you gold and silver Hoarders. one apple and a loaf of bread one ounce ( gold) Broccoli (one once silver ) Sprouts ( Free )
goodagofilms 2 years ago
@goodagofilms
Better take good care of those seeds, hehe....
a bit of moisture or fungus.... so many things
can go wrong...
Some of us also have generations of farming
experience in the family as well as other
"commodities". Please rethink your position.
Vulnerable seeds alone won't a feast
or future make.
Best and Peace.
Airave 2 years ago
i feel the Real Issue ... is to stop feeding the machine ... real freedom is being able to grow your own food, cotton for your clothes, etc. it's not that hard .... u just have to be ready to give up the illusion ... if enough of us stop feeding the 'machine' it will stop running ... i did! if you're interested ask me & i'll tell you .... because whether you can see it or are ready for it ... the playing field is about to be leveled ~* prepare ;)~*
f0Rrmen 2 years ago
dude ive been saying this for the last year
spacecadet988 2 years ago
he must be right because I didn't understand it at all. I'll just hold on to my gold and silver untill that day comes.
whippoorwillss 2 years ago
What?
tetekofa 2 years ago