Ekonomialari ia guztiek, politikari guztiek eta abar oso luze batek uste dute zergen bidez biltzen dela dirua, gero inbertsioak gauzatu ahal izateko.
Horiek guztiok nahazten dituzte moneta erabiltzaile eta moneta jaultzilatzeko estatuak
Soilik MTM-koek daukate argi afera.
Oharra: euskaraz MTM (Moneta-Teoria Modernoa), ingelesez MMT (Modern Monetaru Theory).
Hona hemen, eredu batzuk, jadanik aipatuak UEU-ko blogean…
******
No idea at all!
Aipamena
Elon Musk
@elonmusk
abe. 18
Exactly right. ALL government spending is taxation.
The government either taxes you directly or, by increasing the money supply, taxes you through inflation.
oooooo
Stephanie Kelton@StephanieKelton
ALL FEDERAL SPENDING EMITS TAX CREDITS (i.e. US$) THAT FUND TAXPAYERS.
Aipamena
Tesla Owners Silicon Valley@teslaownersSV
2024 abe. 19
“ALL FEDERAL SPENDING IS TAXATION.” Elon Musk
Bideoa: https://x.com/i/status/1869843714102927823
oooooo
JUST IN: Elon Musk says the US Government used taxpayer money to fund bioweapon research, including COVID-19.
“Did you know that USAID, using YOUR tax dollars, funded bioweapon research, including COVID-19, that killed millions of people?“
oooooo
FINDING THE MONEY Film@FindingMoneyDoc
@elonmusk: “If we don’t do something about this deficit, country’s going bankrupt!”
To get a bigger picture on how govt spending works, and the illegal Musk/Trump cuts–
FINDING THE MONEY documentary is now FREE on YouTube!
oooooo
Some basics.
The US Dollar is a tax credit.
It is a unit of measure.
You can’t run out of inches
You can’t run out of numbers
The government can’t run out of dollars… unless it purposely, politically chooses to.
Thread 1/x
Since the US Dollar is a mere tax credit and a unit of measure, it is neither precious nor permanent.
A dollar is an IOU.
When it is spent into existence a debt is born.
When it is taxed out of existence a debt is washed away.
All money is debt.
So reducing the national debt means reducing the national money supply.
ΛЦƧƬΣЯIƬY IƧ MЦЯDΣЯ@sdgrumbine
Dollars are not reused
A dollar is spent once into existence.
It circulates within the economy
Is destroyed once it is returned as a tax.
More precisely, it drains reserves at the Fed and destroyed.
There is *NO* PRINTING MONEY!!!!
Congressional spending is simply marking up accounts and taxation is marking them down.
Dollars are constantly created and constantly destroyed daily. DAILY!!!!
There is no such thing as paying for programs.
The government neither has nor doesn’t have dollars.
Dollars are created every time the government seeks to provision itself and deposits are made into their account for spending… via keystrokes on a keyboard.
ΛЦƧƬΣЯIƬY IƧ MЦЯDΣЯ@sdgrumbine
Dollars are deleted, destroyed, shredded when received as a tax.
Get it?
So why are we always talking about the government going broke?
(…)
ΛЦƧƬΣЯIƬY IƧ MЦЯDΣЯ@sdgrumbine
Why do people think that taxes fund federal programs?
Being the “richest” country in the world is not about dollars…
it’s about available REAL RESOURCES.
Not $€£¥₩
ΛЦƧƬΣЯIƬY IƧ MЦЯDΣЯ@sdgrumbine
The lie is so pervasive and systematically reinforced in our sitcoms, magazines, media, churches work place, community associations and political parties, unplugging from economic illiteracy is a herculean task but one that must be destroyed every moment of every day.
(…)
ΛЦƧƬΣЯIƬY IƧ MЦЯDΣЯ@sdgrumbine
double entry accounting demands an asset be tallied. So the otherside of the debt is a private sector asset on the balance sheet. The debt Is an IOU and the asset is a tax credit.
ΛЦƧƬΣЯIƬY IƧ MЦЯDΣЯ@sdgrumbine
(…)
ΛЦƧƬΣЯIƬY IƧ MЦЯDΣЯ@sdgrumbine
An important distinction exists between the currency issuer & currency users..
The Federal Government is the currency issuer. It has no means to live beyond. It creates money at will when Congress authorizes it.
ΛЦƧƬΣЯIƬY IƧ MЦЯDΣЯ@sdgrumbine
States, counties and non sovereign zones such as the Euro adopters are revenue constrained. So pushing for state based initiatives that should be paid for Federally have a very different constraint. States and individuals cannot spend without borrowing, earning or taxing (gov).
(…)
oooooo
@tobararbulu # mmt@tobararbulu
MTM: Dirua bilatuz versus Elon Musk eta Donald Trump
oooooo
Segida
In Warren Mosler: Inflazioaz. AEB-ko gobernaren gastuaz, (to be published today, in the afternoon):
(…)
president Trump threatening the Saudis with all kinds of nasty things if they
39:35
didn’t cut production to get the price of oil up because it had dropped during covid and it gotten so low that our oil
39:42
industry was threatened or shell producers were shutting down he wanted to price up to support the American
39:48
Business they went for the deal whatever was offered them at the time and
39:53
supported higher prices and prices went back up you know then when hit they went even higher so but I’m saying looking
40:01
ahead the way to get more drilling traditionally of your Market type
40:06
oriented U policy makers is to get the price up you get oil up to 100 you’re
40:11
going to have a lot more Drilling and a lot more production you let the price go down to 40 or 50 everybody’s going to be shutting down right so unless they’ve
40:18
got some other way to do this right now we don’t know what they’re going to do we don’t know what the price is but if they use price and decide $70 or $80 is
40:25
what we need for new drill growing and the price goes up to 70 or 80 well 70 today actually goes up another $80 we’re
40:32
going to see CPI headline creeping up and then everything is gets traced back
40:38
to oil and you’ll see lots of other things fertilizer and food and all kinds of things gravitating up towards this
40:43
new price of oil if if that happens so right now I can’t say I can’t forecast (…)
ooo
Economics one of them had to do with the with trade deficits and and how there’s a misconception about them being a bad
41:43
thing you think they’re a net benefit Trump has fixated quite significantly on this idea of the US trade deficit being
41:50
a bad thing I want to get your take on how you’re starting to think about that at the moment yeah well look it’s
41:56
bipartisan and he calls us suckers for running a trade deficit because they’re
42:01
getting all our money and we’re getting their stuff but they’re getting all our money and so we’re losing now what is
42:09
all our money they have $1.2 trillion doll of Treasury Securities what do they
42:15
get for that oh they get a bank statement that says they have treasury Securities okay and we get the things
42:20
that we’re driving around you know the cars and the tennis rackets and everything else whatever else we’re importing all the te and so in
42:28
economics I I like to say it’s the opposite of religion in economics it’s better to receive than to give and I
42:36
like to give the ex use the extremes to make the point and so let’s say we export if
42:43
exports are so good and the money is so good let’s say we exported everything and got paid for it and we got credits
42:49
on central banks all over the world and their currency so we had all their money and we exported everything we had what
42:55
would happen to us and the answer is we’d all die because we’ve exported all our food all our clothing all our
43:02
everything we built you know there’s nothing left we all die okay now let’s say we imported everything and didn’t
43:08
export anything then what happens well we have everything we don’t have to work okay so in the first instance we have to
43:14
go to work produce everything food clothing shelter and Export it all and we have nothing and we die in the second
43:20
one we have everything and we have we don’t even have to work we just get to use it and play with it so clearly
43:26
exports are economic terms real costs and imports are real benefits now there are strategic considerations and those
43:32
are critical considerations we don’t want to import you know critical
43:39
vaccines from people who might cut us off if we need them that’s just plain stupid we don’t want to import critical
43:45
products for our military if people were going to go to war with you know if we’re importing from them because we
43:51
might need them and then we lose the war so you have to these strategic considerations are critical they’re not
43:56
just just a side you know thought a passing thought you know incidental
44:02
thought these are real and so yes we have to look at what we’re importing and maybe we should producing it
44:08
domestically not because they’re getting our money or anything like that which are just tax credits really on our
44:14
Central bank’s books but because these have strategic importance and we’re putting ourselves at risk by not
44:21
building it ourselves and it’s going to cost us to do that because there’s something out there called productivity
44:28
right and the idea that oh well we’re losing jobs uh and uh when we import well we
44:35
are but those jobs are getting replaced otherwise the unemployment rate wouldn’t be at 50-year lows at or near 50e lows
44:41
it would be much higher there was a time where we all had to like go out and grow food 90% of the people were in
44:47
agriculture or else we’d starve we couldn’t have this conversation because we’d have to go out the Harvest bringing
44:53
the you know or be canning food or something and today 1% of the population you know produces like 8,000
45:00
calories a day per capita so we can do other things like sit around on talk shows right and uh Pretend We’re
ooo
real terms of trade is how much stuff do I have to send to everybody else and how much am I getting back for it how much
47:08
am I making my pile smaller by exports how much am I making my pile larger by Imports am I benefiting from what’s my
47:14
real benefit from that that benefit that differential is are your real terms of
47:20
trade and you want to optimize that you want to be able to import the most for a given amount of exports and what that
47:26
comes down to simply is you want to get the highest price possible for your exports and you want to pay the lowest
47:32
price for your Imports and so what we had was President Trump his first time around decided that
47:38
can Canada wasn’t charging us enough for lumber okay and so they’re bad people
47:44
they’re taking advantage of us by not charging us for lumber do you want to send this guy out shopping for you I
47:50
don’t think so all right and so what are we going to do we’re going to put tariffs on Canadian Lumber President
47:56
Biden comes in they’re still not charging us enough so he increases the tariffs so I’m you know I’m not like
48:01
forcing this apolitical thing this is apolitical there is there’s you know bipartisan consensus that if absolutely
48:09
Canada doesn’t charge us enough for lumber they’re bad people it’s like no this is nuts well what are all the
48:15
people going to do who are cutting down trees well what are all the people do who are growing food which used to be 80% of us who 90% who don’t need to do
48:23
that anymore well we’re doing medical research for doctors we nurses we teaching school or public services or
48:30
Public Safety or public health you can’t have all that and have everybody growing food at the same time you have to labor
48:36
is a scarce resource there’s always more to do than there are people to do it you got to free up labor to do the other
48:43
things or else you don’t go anywhere how many research assistants would all these medical researchers like to be able to
48:49
find new cures and new treatments a lot what’s limiting them well funding right
48:56
but even with funding you can’t have everybody doing medical research people there are other things in the country that need to be done unless you can get
49:03
non-residents That’s What I Call foreigners they’re just people who don’t live here non-residents to do it for us
49:09
so with non-residents net sending us a trillion dollars a year of Imports on that that’s we import more than we
49:15
export we don’t have to do all that stuff we can have all these other high quality jobs or you know of course you
49:23
have to organize yourself to do it if you just leave if we just let unemployment go up to 20% yeah okay that
49:29
it’s just PL stupid but we don’t we redeploy these people into high quality software jobs and high quality other
ooo
so the
52:06
government’s constrained not by how much it can credit your account there’s no limit to that but by how much it can
52:12
create that’s offered for sale it does that with tax requirements so taxing is
52:18
critical but not the revenue not the money the taxing has to cause things to
52:23
be offered for sale or the government can’t buy them so when we’re in an economy and we see
52:29
unemployment what is unemployment that’s people for sale people willing to work for $1,000 a week $800 a week 1,500
52:38
whatever it is they’re for sale the government can buy those it can employ those people and if they’re unemployed
52:44
and not productive uh our pile of stuff gets larger if
52:51
they’re employed productively whether it’s in public services uh to make the
52:57
legal system faster so we don’t have to wait in line so long for government services for Legal Services or if it’s
53:04
to cut taxes uh or increase transfer payments so that the private sector can
53:10
now hire these people okay so if we can get these people out of unemployment
53:16
employed okay now we have a chance for a pile of stuff to go higher if we don’t
53:23
you know we can’t do that now why could they possibly be unemployed how does that where does that come from that so
53:31
the government puts tax liabilities on right now let’s say it’s 5 trillion dollars or what the economy generates
53:37
and tax liabilities a lot of them are transactions taxes which are much more complicated but we all go into that now
53:42
economy needs $5 trillion dollar to pay the tax how do we know the economy needs any dollars to pay the tax because it’s
53:48
selling things to get dollars there’s no other use for the dollar either to pay your tax or not pay your tax and just
53:55
save it there’s only two re reasons the economy would want dollarss pay the tax or to not pay it and just hold the money
54:01
there’s only two things you can do once you’ve earned it if they’re willing to sell something to pay the tax yes if
54:06
they’re willing to sell something to just hold the money okay that’s a conscious decision to save there are savings desires out there we don’t know
54:13
how large they are so when we see unemployment we see people for sale
54:21
right and we know the money we pay them is either going to be used to pay taxes or to save
54:26
because it can’t go anywhere else that’s where government money goes tickets from the movie theater are used to go to the
54:32
movie or they’re held in savings they can’t do anything else tickets from the football stadium can go to the game but
54:39
they can’t you know Stadium nothing can’t do anything else with the stadium for okay for for the government once it
54:45
spends its dollars it credits your account you’re either GNA use them to pay taxes get subtracted from an account
54:50
or you’re not and they’re going to stay in your account that’s called the public debt right okay so unemployment is the
54:56
evidence that the government’s spending hasn’t been high enough to cover the need to pay taxes and the desires to
55:04
save that are created by government tax liabilities okay the unemployed are
55:10
there because the government put a tax liability on which created unemployment created people who need paid working
55:16
dollars to pay taxes or to save and then it didn’t spend enough to hire them the
55:22
unemployed are created by the government tax liability so the answer is either to cut taxes or to increase public spending
55:28
make a fiscal adjustment depending on your politics get them back in the private sector by cutting taxes get them in the
55:35
public sector if you think we need more Public Services you know which is I guess the country’s split 50/50 on that
55:41
so I won’t take sides right now okay but those are your two rational constructive
55:46
choices not be against deficit spending because you don’t understand you got the
55:52
the uh sequence backwards leave people unemployed leave your pile of stuff
55:57
smaller than would have always otherwise would have been you know destroy 10 or
56:03
15 million lives with the anxiety and Agony of being unemployed and family breakups and crime and everything else
56:11
you know over so anyway the only thing that’s preventing a smooth operation of
56:16
the system whether it’s for you know one partisan group or the other they’re all
56:22
in favor of you know having everybody working just one of them would like them in the private sector one in the public
56:27
sector but you know whoever wins gets their choice neither of them want the unemployment okay it’s the space between
56:34
our it’s causing neither one of them to be successful at their own agenda right
ooo
The Deficitf doesn’t matter
Does The Deficit Matter?
56:39
so with with that as context like when somebody like Scott Besson is coming in to be treasury SEC secretary who’s
56:45
talking about bringing deficits from 7% to say 3% of GDP how do you think about that does that concern you from say why
56:52
I say why one of the reasons why is well we got got to pay all this interest well
56:57
why all right let’s say you cut rates to zero like Japan has done for 30 years like the US did for 10 like Europe did
57:03
doesn’t cause any inflation or anything well then there’s no interest payments now why do you care if the deficits at 3% or 6% why does it matter it’s just to
57:11
assume that it matters it’s just assumed there’s a neutral rate that the fed’s looking for they’ve got all these
57:17
built-in assumptions in the rhetoric all these starting points that have no
57:23
foundation in today’s reality a floating exchange rate currency you know FIA
57:29
currency they might have had application on the gold standard we have to bring this deficit down otherwise we’re going
57:35
to lose our gold Supply okay but that’s not applicable anymore all the reasons they wanted to bring it down if he
57:42
thinking unemployment needs to go higher we want less inflation and somehow the
57:47
unemployment’s the cause of the inflation okay he’d have a coherent argument but he doesn’t have that either
57:53
it’s just the deficit per se is bad it’s a e word the devil word it’s evil and it
57:59
has to it has to go you know and uh once you’re at a zero rid policy like Japan
58:05
has been they’ve R much larger deficits than we have their debts of GDP is what 260% maybe 180 after intergovernmental
58:12
transfers or something like that and their inflation rates lower it was lower through the whole crisis and never got
58:17
over four something and uh with a deficit that was roughly double hour or
58:23
something like that okay so the deficit doesn’t you don’t even need need to publish the number if you’re at a zero rate policy it’s of no
58:30
consequence okay what’s the trade balance between New York and Connecticut it’s like nobody knows but if they
58:36
publish a number I’m sure there’d be a deficit on one side and somebody win office to do something about it because
58:41
we all know deficits are bad Warren on that point earlier in the show you provided a a anecdote about how you know (…)
ooo
MMT’s Godfather Says the US Government Is Spending Like a Drunken Sailor | Odd Lots
(https://www.youtube.com/watch?v=GzXcTFvlHjE)
(…)
The basic gist is that the size of the deficit is not per se problematic. What matters are real resource constraints, and that if government spending gets too high — or is spent in unproductive ways — then inflation can materialize as too much money collides with insufficient supply. (…)
oooooo
Trump tariffs, presumed to help business, are new tax liabilities and the funds to pay taxes come only from gov spending which is being cut (also presumed growth friendly) = a full-on attack on GDP/output/employment, and Fed rate cuts would reduce gov spending that much more.
ooooo
FINDING THE MONEY Film@FindingMoneyDoc
@elonmusk: “If we don’t do something about this deficit, country’s going bankrupt!”
To get a bigger picture on how govt spending works, and the illegal Musk/Trump cuts–
FINDING THE MONEY documentary is now FREE on YouTube! https://youtu.be/Mrje-m01kI8?si=2hKYY3_OxrgBk1LN
oooooo
The current deficit is an accounting residual coincident with stable growth, low unemployment, moderate inflation, etc. It’s the current net money supply- gov spending that has not yet been used to pay taxes = to real savings desires of the economy.
moslereconomics.com
MMT White Paper – Mosler Economics / Modern Monetary Theory
Click Here for the White Paper on Modern Money Theory Italian Version Español
ooooooo
Beraz, aberastasunaren benetako afera ez datza aberatsen dirutzatan (Elon Musk) …
Dakigunez edozein banku zentralek, eta noski AEB-ko banku zentralak, berehala sortzen du dirua inolako kosturik gabe, ‘infinitu’ diru dauka erabili ahal izateko, aberats guztiek daukatena baino askoz diru gehiago: infinitua! Gobernuak infinitu diru dauka
… edo eta politikarien boterean (Donald Trump)…
Jakin behar dena hauxe da: Ekonomiak nola funtzionatzen duen eta zer egin daitekeen ekonomia ongi kudeatzeko.
Kasurako, langabeziarekin bukatzeko, langileen soldata eta pentsio duinak hornitzekoa, ekologia, eta oro har, planeta zaintzeko, eta abar oso luzean aritzeko…
Job guarantee (lan bemea) delako politika ere kontutan hartu behar da: puntu hori MTM-ren bihotzean dago…
Azken finean, dirua benetako aberastasun errealak mugiarazteko erabilltzen da.
Dirua ez da arazoa, afera baliabide errealetan datza. Baliabide materialak, giza baliabideak eta baliabide sozialak (hezkuntza, osasungintza, kultura, …)
Zein galaxiatan bizi dira (gara) euskaldunok?
Hortaz, Warren Mosler-ek bere finezia eta ironiarekin, gaurko nazismo berri baten aurrean, honela diosku:
erabiltzaileari erantzuten
Alegia, etorkizuna nirea da: ni hori Trump, Musk, eta holakoak izanik!
Ulertu al da?
oooooo
Tomorrow Belongs to Me – Cabaret
https://www.youtube.com/watch?v=_tUctFu46_c The patriotic song from Cabaret, in the
Biergarten in pre-war Nazi Germany, sung by the Arian Hitler youth. You see many young and old people getting taken up by the song, but you can also see the old man who remembers WWI and knows what will happen.
Transkripzioa:
0:00
[Music]
0:02
to
0:05
Africa to
0:13
[Music]
0:20
Africa in the forest R
0:26
free but
0:28
GA together
0:30
to greet the storm
0:35
tomorrow
0:36
belongs to
0:40
me the branch of the Linden is sley and
0:47
green the r gives its go to the
0:52
[Music]
0:54
sea but somewhere a glory of AG
1:01
unseen
1:03
tomorrow
1:04
belongs to
1:08
me the bab in his cradle is closing his
1:14
eyes the Blom
1:18
embra the
1:21
be but soon says a w
1:26
arise arise to
1:30
belongs to
1:32
[Music]
1:34
me father and
1:37
father
1:43
[Music]
1:55
usor
1:56
[Music]
1:57
beor be
2:01
[Music]
2:10
father
2:13
to the morning will the
2:19
[Music]
2:24
isong tomorrow belongs to
2:28
me
2:30
no be no be
2:38
no you still think you can control
2:41
[Music]
2:58
them
3:03
theong belong
3:07
[Music]
3:11
to
******
Geure herriari, Euskal Herriari dagokionez, hona hemen gure apustu bakarra:
We Basques do need a real Basque independent State in the Western Pyrenees, just a democratic lay or secular state, with all the formal characteristics of any independent State: Central Bank, Treasury, proper currency, out of the European Distopia and faraway from NAT0, maybe being a BRICS partner…
