Modern Monetary System

Venezuelan Inflation Was Not Caused by Printing Too Much Money

"There is, of course, a  hyperinflation problem in Venezuela. But it did not result from printing too much paper. And it's crass to say it is. I am not, when saying so, also suggesting that the government has no part in the problems the country faces: it obviously has. But let's have a mature debate and explanation, and not this nonsense that suggests the printing press is the route to hell in a monetary handcart."

The Great Deficit Scam

This is a very strong clue that government spending has in fact been woefully insufficient over the decades. We have locked ourselves into a demand-starved economic trap: stagnant wages, low growth, and tremendous cash hoarding at the top. This is the classic description of austerity, and like lowering deficits, austerity accomplishes the opposite of what its advocates publicly endorse.

1) Deficits are irrelevant — they’re not a legitimate policy objective.
2) The government cannot run out of money.
3) Taxes do not fund spending.
4) Spending in excess of tax receipts is not a problem.

Don't Put London Bankers In Charge Of Scotland's Independence

"I would have thought Mackay would be frustrated enough with the absurd constraints he has to live with now. But to use sterling would make his life nigh on impossible. Why then does he want to go down that route? I wish I knew. Economically it makes no sense. The political economy of it is disastrous. It would tear the SNP apart after independence. And it would guarantee a crisis-strewn start for the new nation as it failed to deliver on any promise and all its potential.If Scotland wants to be free it has to have its own currency. Nothing less will do." - Professor Richard Murphy.

Demystifying Modern Monetary Theory

"In a challenge to conventional views on modern monetary and fiscal policy, Professor Bill Mitchell of Newcastle University in Australia has emerged as one of the foremost exponents of Modern Monetary Theory (MMT).....Mitchell presents a coherent analysis of how money is created, how it functions in global exchange rate regimes, and how the mystification of the nature of money has constrained governments, and prevented states from acting in the public interest."
YouTube: Bill Mitchell: Demystifying Modern Monetary Theory