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Money creation a lie?
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Steve Keen considers the following as important:
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Money creation a lie?
Topics:
Steve Keen considers the following as important:
This could be interesting, too:
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| money creation a lie? |
The ? Dollar is a legal unit of account having a fiscal/tax relation between the ?? federal government as the issuer, and its users.
Demanding that ?? federal ? taxes be paid only in ? Dollars, insures the validity of the ? Dollar as the means of exchange.
Unlike States and municipalities, only ?? federal government created ? Dollars, not ?? federal ? taxes, nor auctioned interest bearing ? Treasury Securities, pays for entitlement/discretionary spending and interest on the debt.
The ?? National Debt is the amount of interest bearing ? Treasury Securities that the ? Federal Reserve has exchanged for excess ? Dollars circulating in the economy. Essentially having transferred excess ? change from checking to savings.
The ?? National Deficit is when the total amount of ? Dollars created into the economy by the ?? federal government, exceeds the total ?? federal revenues ? taxed.
Eliminating excess concentrations of ? Dollars through ?? federal capital gains, dividend, interest, corporate, estate and inheritance ? taxes are essential for restraining excess concentrations of private power.
Inflation is a devaluation of the ? Dollar throughout the economy due to a shortage of resources and/or productive capacity.
Hyperinflation is a catastrophic devaluation of the ? Dollar throughout the economy due to a collapse in resources and/or productive capacity.
Recessions are cyclical decelerations of the ? Dollars throughout the economy that in time cause corresponding declines in economic activity.
Stagflation is a devaluation of the ? Dollar compounded by a decline in economic activity throughout the economy due to the scarcity of an essential resource.
Deflation is a revaluation of the ? Dollar compounded by a decline in economic activity throughout the economy due to an escalation in excess inventory.
A Depression occurs when the ?? federal government runs a surplus that ? taxes out the ? Dollars essential for the functioning of the economy, causing a collapse in economic activity and an unsustainable escalation in private debt.