Listen... Peeling back the veneer that blocks so much of our collective cognition on the creation of dollars... The fact that monetarily sovereign nations that create their own unit of account... 1/x

That they create currency every single time their government authorizes it and can spend on the people. Congressional authorization in the case of the United States...

Once we get past that most basic truth... We have just begun to scratch the surface of what we can do as a nation and as a global community.

Nation states that generate their own currency and have the productive capacity to meet their nations needs are capable of full monetary sovereignty.

States that are heavily dependent on imports and lack productive capacity have some constraints as the real resources are more challenging to acquire.

Nations that have tied their currency to a commodity or another currency as a peg have drastically limited the policy space by which they have to meet the needs of their citizens.

Nations without currency issuing authority, such as those on the Euro... Such as Greece... Must maintain a net export stance and must ha e a lot of foreign sector investment such as tourism etc to keep them afloat.

They are stuck much like states in the USA who are currency users and survive off of tax revenues, bond sales and private debt.

They do not have the power to run perpetual deficits without piling up debt they cannot "print" their way out of.

They require direct injections from the currency issuing authority. In the United States, that power is solely in the hands of Congress... Article 1, section 8 of the US Constitution

What this points to is understanding that to have a Green New Deal. To have student debt cancellation. To have free college for all, healthcare as a right and expanded social security ..

we have to get to the point where we stop talking about "hard earned tax dollars" and "how ya gonna pay for it?"

It's just the base entry point to a better world. After realizing taxes do not fund the Federal Government or the Central issuing authorities... Then we can have honest discussions about what a fair and just society could even look like.

Until then... We will fight over tax dollars .. fight over deficit reduction and fight over the non-existent public debt of currency issuing nations and authorities.

Time to smarten up. With a pandemic shutting down global commerce...

Nationalizing payroll and pumping emergency cash payments into the hands of the people is a here and now requirement.

Not someday down the road. In 4 weeks, 22 million lost their jobs in the US alone. Globally, even more.

Healthcare should be a right of all... Even during this pandemic pay fors are being discussed. Insanity we need to see this as the opportunity to fix that which is broken in society and not focus on propping up capitalism

#LearnMMT