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Modern Monetary Theory (MMT) (Read 143416 times)
thegreatdivide
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Re: Modern Monetary Theory (MMT)
Reply #1410 - Today at 2:44pm
 
https://www.youtube.com/watch?v=xi8BV6bWsWg

IT'S OVER: China Just Sold All US Debt. What They Aren't Telling You

.........

Basically tells, in an easily understood  line by line account,  how the US dollar's 'exorbitant privilege' (as the global reserve currency) has created the fake financialized US economy which China is exploiting as a result of the US-initiated trade war.

Excellent analysis, exposing high-risk US treasuries, stocks, bonds and real estate 'values', in the fake, financialized US economy.

He also derides crypto, and ends up praising gold as the only 'safe haven' in the coming global meltdown.

But he does contradict himself, while praising China's REAL economy for its production of stuff which people want and need, to live well.

Individuals  - and certainly governments -  don't need gold, to live well.

And the currency-issuing Chinese government doesn't need to store gold, it needs to distribute yuan to low income groups, to absorb the nation's industrial "over-capacity" resulting from the US trade war.

Or create currency-swaps ("de-dollarization") with Global South nations, also discussed.
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