Comments by "L.W. Paradis" (@l.w.paradis2108) on "“Deficits Don’t Matter!” – Modern Monetary Theory Economist Stephanie Kelton" video.

  1. The reason we "can print money" is because we have a military that imposes dollar hegemony on the world. We are taught to believe the military sucks value out of the economy. No it doesn't. It's the only reason the dollar is the global reserve currency, which is the only reason we do not have devastating inflation.
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  2. Exactly. Governments have a monopoly of force. That's why they can impose their will.
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  3. It works only because in place of something like a gold standard, the world has a dollar standard: it IS the global reserve currency. If other countries again try to remove themselves from the regime of dollar hegemony, there will be war. It's certain.
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