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The National Debt Ceiling and How Money is Created — jasciu

Summary:
MMT for the "left." It's a reasonably good explanation of how a currency issuer is different from a currency user. Reading the comments section is depressing. The so-called left is about as clueless as the so-called 'right," e.g., as represented in the comments section at ZH. It seems doubtful that either of these heavily programmed groups will ever get it. However, here there are also commentors supporting MMT, holding out hope that the "left" isn't totally brainwashed. Daily KosThe National Debt Ceiling and How Money is Createdjasciu

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MMT for the "left." It's a reasonably good explanation of how a currency issuer is different from a currency user. Reading the comments section is depressing. The so-called left is about as clueless as the so-called 'right," e.g., as represented in the comments section at ZH. It seems doubtful that either of these heavily programmed groups will ever get it. However, here there are also commentors supporting MMT, holding out hope that the "left" isn't totally brainwashed.
Mike Norman
Mike Norman is an economist and veteran trader whose career has spanned over 30 years on Wall Street. He is a former member and trader on the CME, NYMEX, COMEX and NYFE and he managed money for one of the largest hedge funds and ran a prop trading desk for Credit Suisse.

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