"Modern politics is impossible to understand without grasping the pollution paradox. The greater the risk to public health and wellbeing a company presents, the more money it must spend on politics – to ensure it isn’t regulated out of existence."https://www.theguardian.com/commentisfree/2020/mar/18/politics-public-covid-19-tobacco-johnson …
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Replying to @timoreilly
What paradoxes!?? It is foolishness. People put the label of money on paper or digital units, and suddenly they perceive it to have value. When, infact, the value comes from nature, from food, from people, from love, from music, from culture, from learning, from innovation.
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Replying to @learning20201 @timoreilly
Just help more people learn about monetary sovereignty. and modern monetary theory
#mmt. Talk to@sdgrumbine MMT Basics Video: https://www.youtube.com/watch?v=7E5tP8QXPGM … MMT Basics Thread: https://twitter.com/sdgrumbine/status/1223039735083544576 …@DanielleFong@Brainbuilder_@samyak0007@PowrCorrupts@cooluser51@BernieSanderspic.twitter.com/i0jkltJGLj
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Replying to @learning20201 @timoreilly and
I didn't watch the video because it is very long, but i read the thread. I think there are some issues with the implications of what is being said. 1/
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Replying to @MjolnirTech @learning20201 and
We do have a sovereign currency, but it was initially backed by gold. After the fed was created, it was no longer backed by gold, it became backed by the Gov't. This is basically what has already been said. 2/
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Replying to @MjolnirTech @learning20201 and
What I feel is missing is the importance of 'trust' or 'faith' in the Gov't. This is not the same as trust in politicians. This is the trust that the government will continue to exist and 'create' the money for the economy. 3/
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Replying to @MjolnirTech @learning20201 and
Like was said, the dollar can be anything, but this is not set by the Gov't directly. It's set by the economy itself, which is the trading of goods and services for currency. These goods and services have intrinsic value and the dollar is compared to that value. 4/
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Replying to @MjolnirTech @learning20201 and
Therefore the GDP is a measure of the sum of the available goods and services while the economy is the measure of how much trading of those is done. The dollar is a unit of measure. It can be defined however the Gov't wants. 5/
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Replying to @MjolnirTech @learning20201 and
If the Gov't issues (creates) more money, then the value decreases because the GDP hasn't changed. There are just more dollars being used to describe the same thing. Think about an apple that is 4 inches tall. We could change the inch to half the size... 6/
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it's about internal stability. we have to grow from inside out. the centralized systems aren't working anymore.
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Replying to @DanielleFong @MjolnirTech and
gold is defended by the sword.
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