Modern Monetary Theory – A Debate: Randall Wray Responds (Pt 3/4)

1. Well the US dollar is being replaced as the world reserve currency so there that goes ,
   There are parts of mmt that sound ok , but this would have to take a complete change of the political and social sphere to work , dude we could just cut military spending which would be haaaard asffff but it would be easier then this idea and that’s saying a lot 🤷🏿‍♂️,
   This convo happened before bricks started to really throw their weight and before ai was a thing

2. Federal Reserve Central bank doesn't print money. The Bureau of Engraving & Printing from the department of the treasury prints the fiat paper cash. The US Mint produces the coins.

3. It doesn't really take that much effort in learning Modern Money. Because I'm not that smart. MMT has hammered this point many times. The fed. government spending capacity is much larger. With only a few spending constraints. One of them being fighting inflation. fed government won't produce and spend new money into existence if the real resources and goods don't exist.

4. 00:00 - 
   00:47 –
   00:57 – A clear mistake : Works for all countries which issue a unit of currency
   _______ and have resources and labor to manufacture these into needed goods & services to thrive.

5. Such as Tunisia. I am from Tunisia. Every time I think about monetary reform which requires a very deep thinking I get a headache.

6. More MMT.

7. Paul Jay, thank you for doing this. Let's take the next step: Roundtable with Randy Wray, Pavlina Tcherneva, Stephanie Kelton, Bill Mitchell, Mathew Forstater, Fadhel Kaboub, John Harvey, and Steven Hail. Additional guest suggestions are Bill Black, Robert Hockett, Raul Carrillo, Rohan Grey, Darrick Hamilton, Sandy Darrity. I suggest two or three 30-minute roundtable episodes. The latter guest suggestions give the legal and social science perspective of money, and complements the economics, as offered by MMT economists. There are real solutions, Sir. It's critical to get the message and knowledge out there. We're heading for utter disaster. We need to turn things around. Thanks, again.

8. again…..suggestion to this problem…….ignore the the ignorance…..stop covering AOC and green new deal bull shit……stop covering those lie's they want you to believed…..and stop playing dumb….you guys know….what's really the problem is…..
   eliminate hypocrisy….be true for all the things what you do
   Just look at us
   everything is backwards
   everything is upside down…..doctors destroy health
   lawyers destroy justice…..universities destroy knowledge
   GOVERNMENT destroy freedom
   the major media destroy information
   and religion destroy spirituality
   LIE DESTROY EVERYTHING…and this people in the government…..didn't do any good to american people and to the world….the people in the government is the problem because they're puppets……..republican and democrats…..

9. So proud to have spent time in learning mmt.

10. Mr. Paul Jay, please invite Mr. Ray & Michael Hudson to have a convo re their ideas; i.e. debt forgiveness

11. Why would developing countries have a problems? They can install a central American bank in Libya while they're being bombed into the stone age. They were doing just fine before people like you got involved. Venezuela looks to be next on the list. Talking out both sides of your mouth either the american dollar and the fed is the go too place for money or it isn't. If as you say not to worry places like Argentina can now do this in their own currency, does this not say america and their federal reserve is no longer in the loop of a counties usury? Make up your mind. I'll check Argentina and see how they did after the crisis 10 years ago.

12. Omg please more of this

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14. You hear here that Randy is saying that MMT is not about doing away with the Fed's role in issuing money. That means that monetarism would stay in place, which is a bad idea. This is a confusing spot in MMT, as I've read that MMT has gone over to money financing by the government directly and not through the Fed. I even lauded MMT for making the change. At one point, I discussed the issue directly with Randy. Unfortunately, it was on Nouriel Roubini's website and has been deleted. Randy ended up being fine at the end of our back and forth with the US government issuing the money directly and not through the Fed and not by borrowing. I sure wish MMT would clear up this rough spot.

15. https://youtu.be/G2qIXXafxCQ I suggest watching this video? any comments?

16. I call for an audit of the federal reserve. secrets should not be in the FR.

17. Wray, Mitchell, Kelton, Mosler economist who study MMT describe the current money game. Me thinks what happening is the left policy wonks and techie economists talk past each other. The idea is to look at the purpose of human beings on the planet is. We are aimless and in trouble by; nuclear war, pandemic, climate extinction, Near Earth Object collision extinction or even life ending extinction by exploding star Gamma Ray Shower.
    No policy, no project or modern human advancement for 60K years resulted in mitigating these effects on the human race.

18. RE: "… MMT denies that the US needs taxes to pay for stuff.. …"
    
    • True dat, but under current law they TREASURY needs to tax or borrow in order to spend. A gentleman and a scholar got into a twitter war with MMT folk a while back and Bill Mitchell responded on his blog. He was 95% right but he and some other MMT folk just can't get over the:"taxes and borrowings don't fund spending" nonsense narrative. It of course it depends if you consider the FED as part of government.:
    
    http://bilbo.economicoutlook.net/blog/?p=38885&cpage=1#comments

19. Monetary theory? Print more money…Manyard Keynes.

20. Bill Black: "There’s something invigorating about people freaking out about modern monetary theory (MMT). They treat MMT as akin to the Ark of the Covenant in the first Indiana Jones movie. They are petrified that knowledge of the financial equivalent of the 'holy of holies' will be released to normal people because they project their greatest terrors onto the possibility that the public will be transformed and empowered by their knowledge of matters that much of the financial world has understood for at least a century."
    What if the Public Understood How Money Works?
    http://neweconomicperspectives.org/2015/01/public-understood-money-works.html

21. I think the federal reserve and central banks need to go bye bye

22. MMT is what the central banks want.

23. Money is LOANED into existence- not by created by the government but by the FED!!! Mosler was a hedge fund founder!! And Kelton was a government economist- you think they don't KNOW we borrow money from the Fed?? They are lying to you!!! We need MONETARY REFORM!! Nationalized the Fed and print DEBT-FREE SOVEREIGN MONEY which we do not have YET!!!

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