Comments by "" (@foxmoongaze) on "What is modern monetary theory" video.

The government can always repay it's debts, but what isn't guaranteed is the value of currency when the repayment is made. Many times, in many countries, the safety of "saving" with a treasury/government has had a high cost, when the currency became worth very little. Hopefully that will never happen in the UK 🤞
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My understanding is that MMT developed as an idea in the mid 90s and was perhaps adopted by the UK 20-25 years ago. If this is true, on the face of it, things have not gone well.
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@helenheenan3447 Your comment is rather patronising, MMT is one way an economy with a fiat currency can work, and is easily abused as shown by the deep financial doo-doo the UK and other countries are in. Of course MMT should be debated, all theories and ideas should.
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@Vroomfondle1066 Historically, many public sector investments seem to have been poor value for money or catastrophes. They may have been started with the best of intentions. The government is very excellent at spending money though.
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Thank you for confirming to people that creating too much money causes inflation. Too many people believe inflation is caused by prices rising, when in fact that is just a consequence of inflation devaluing the currency. Using taxation to control inflation seems to have been implemented in a very unfair way, and what happens if all, or much, of the credits issued are called in by the lenders domestic and foreign? Is this when taxation shoots to the moon as per the 1960s?
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@Vroomfondle1066 Inflation by definition refers to inflating something, in this case the volume of money, nothing else. If you are talking about prices rises, they nearly always rise as a consequence of inflation, sometimes for other reasons such as a temporary supply shortage for a specific thing.
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@legalfictionisfraud I've only done that because Richard was using the word "money" and sometimes people get confused otherwise. But, you are correct, it is a fiat currency, a credit note, a promissory note .. of nothing. Money is specie.
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