{"id":19393,"date":"2015-01-14T23:18:30","date_gmt":"2015-01-15T04:18:30","guid":{"rendered":"http:\/\/ssgreenberg.name\/PoliticsBlog\/?p=19393"},"modified":"2015-01-15T09:43:24","modified_gmt":"2015-01-15T14:43:24","slug":"what-if-the-public-understood-how-money-works","status":"publish","type":"post","link":"https:\/\/ssgreenberg.name\/PoliticsBlog\/2015\/01\/14\/what-if-the-public-understood-how-money-works\/","title":{"rendered":"What if the Public Understood How Money Works?"},"content":{"rendered":"<p><em>New Economic Perspectives<\/em> has the article <a title=\"New Economic Perspectives article\" href=\"http:\/\/neweconomicperspectives.org\/2015\/01\/public-understood-money-works.html\" target=\"_blank\">What if the Public Understood How Money Works?<\/a> by William K Black.\u00a0 After he explains why the high priests of economics think it would be dangerous for the public to understand how money works, he mentions one way in which the information leaks out in times of war.<\/p>\n<div class=\"su-spoiler su-spoiler-style-fancy su-spoiler-icon-plus-square-1 spolierclass su-spoiler-closed\" data-anchor=\"dangerousinformation\" data-scroll-offset=\"0\" data-anchor-in-url=\"no\"><div class=\"su-spoiler-title\" tabindex=\"0\" role=\"button\"><span class=\"su-spoiler-icon\"><\/span>Warninng: Opening up this box may expose you to dangerous information. Remember what happened with Pandora.<\/div><div class=\"su-spoiler-content su-u-clearfix su-u-trim\">\n<blockquote><p>One of the great truths of fighting wars of survival like World War II is that national leaders discover MMT even if the priestly class of economists yammers on about the terror of deficits and sovereign debt. No UK leader would respond to a German invasion by saying: \u201cSadly, we\u2019re \u2018out of money\u2019 because we\u2019re already running a deficit and our sovereign debt to GDP ratio is high \u2013 so I\u2019ve ordered our troops to lay down their arms and surrender.\u201d<\/p><\/blockquote>\n<\/div><\/div>\n<p>&nbsp;<\/p>\n<p>If you opened the box, you need to know that the MMT mentioned above is <em>Modern Money Theory<\/em> as Bernie Sanders&#8217; chief economist is about to unleash upon the Senate budget committee.\u00a0 The other MMT that Black talks about is <em>Monetary Myth Theory<\/em>.\u00a0 This is what even revered economists such as Paul Samuelson wanted you to think you knew.\u00a0 He\u00a0 even has a Samuelson quote stating that Samuelson wanted the real MMT kept secret.\u00a0 By the way, the word modern in the <em>Modern Money Theory<\/em> refers to the era that started several thousands of years ago and continues to this day.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>New Economic Perspectives has the article What if the Public Understood How Money Works? by William K Black.\u00a0 After he explains why the high priests of economics think it would be dangerous for the public to understand how money works, he mentions one way in which the information leaks out in times of war. &nbsp; [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[166],"tags":[],"class_list":{"0":"post-19393","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-stevegsposts","7":"czr-hentry"},"_links":{"self":[{"href":"https:\/\/ssgreenberg.name\/PoliticsBlog\/wp-json\/wp\/v2\/posts\/19393","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ssgreenberg.name\/PoliticsBlog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ssgreenberg.name\/PoliticsBlog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ssgreenberg.name\/PoliticsBlog\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/ssgreenberg.name\/PoliticsBlog\/wp-json\/wp\/v2\/comments?post=19393"}],"version-history":[{"count":9,"href":"https:\/\/ssgreenberg.name\/PoliticsBlog\/wp-json\/wp\/v2\/posts\/19393\/revisions"}],"predecessor-version":[{"id":19402,"href":"https:\/\/ssgreenberg.name\/PoliticsBlog\/wp-json\/wp\/v2\/posts\/19393\/revisions\/19402"}],"wp:attachment":[{"href":"https:\/\/ssgreenberg.name\/PoliticsBlog\/wp-json\/wp\/v2\/media?parent=19393"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ssgreenberg.name\/PoliticsBlog\/wp-json\/wp\/v2\/categories?post=19393"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ssgreenberg.name\/PoliticsBlog\/wp-json\/wp\/v2\/tags?post=19393"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}