Complete cryptocurrency market coverage with live coin prices, charts and crypto market cap featuring coins on exchanges. As opposed to MMT, BTC takes a drastically different philosophical approach to government debt. Allowing individuals an escape hatch against endless government. Bitcoin News – Articles from MMT tag. Tag: MMT. US Lawmakers Float the Idea of Minting a Trillion-Dollar Platinum Coin to Avoid Sovereign Debt Crisis. ETHEREAL CLOAK PATHFINDER
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While the money printer is running at full speed, here is a breakdown of how central bank monetary policy relates to crypto prices. Quantitative easing Central banks increase the rate of growth by cutting interest rates to encourage consumer spending, thereby increasing the effective demand and ultimately profitability. However, when interest rates are approaching zero, they are left with the option of injecting money directly into the economy by buying financial securities.
This process is known as quantitative easing QE and has the following effects: Bond prices increase as their demand increases Interest rates are reduced Banks have more money reserved than required and the money supply in the economy increases.
When asset prices increase and interest rates are low, risk premiums get twisted. As a rule of thumb, cash is safer than bonds, which are safer than equities, which are safer than alternative investments. This ultimately triggers a rally for all assets, including ones that previously were associated with the greatest risk. Simultaneously, as the ECB continues to increase the stimulus , it is widening the wealth gap. Investors take profits and are incentivized to invest more, asset prices go up, and investors are rewarded.
Rather than boosting general consumption, it boosts the inclination to invest. This is essentially how low interest rates enrich Wall Street while Main Street falls behind. This creates an anti-corporate sentiment, driving governments to spend more on the people for the sake of keeping voters content.
On an individual level, it is difficult to accept lower wages and higher taxes, although the overall economy would benefit from borrowing relative to the growth of the economy. Thus the only politically viable solution is to print more money. S left-wing economists, who presented it as a solution for expensive political projects. The essence of MMT is that budget deficits are irrelevant, because sovereign currency-issuing governments cannot default on their sovereign debt as they can always print more money.
The only real constraint on governments is the availability of resources. If resources are available, governments can pay for them by printing money. The primary claim of MMT according to leading MMTists goes something like this: Governments can run deficits spending more than they tax without any repercussions right up until inflation kicks in. For the managerial elite, who want nothing more than to pretend everything is fine, while the house is burning around them, MMT is a godsend. Adding to the absurdity, the experts keep changing the way they measure inflation.
Modern Monetary Theory is Fundamentally Wrong Anyone with a strong grasp of economics knows these people are incorrect. Changing the money supply itself does not create value. Money is only a commodity that acts as a medium of exchange. All money bids on the same pool of goods and services. In the short term, changes in the money supply will benefit the few at the expense of everyone else.
In the long term, prices will rebalance to reflect the new — lower — purchasing power of money. Deflation is easier to understand than inflation. If someone launched all their money into space, they would be worse off, but everyone else is better off.
In this example, a bunch of money has been effectively destroyed and now everyone else has a bigger share of the total money supply — their purchasing power increases in direct proportion to how much money was sent into space.
Inflation is much more pernicious. When inflating, the new money must go somewhere. If something is created out of thin air, who gets it? Whoever gets that new money can spend it as if it had the same purchasing power as before the inflation. When it circulates through the economy, prices will increase, reacting to the abundance of new money. This is perfect for governments to use against the populous.
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