Comments by "" (@foxmoongaze) on "Modern monetary theory is not a policy" video.

In a perfect world, with intelligent and selfless government that can't be swayed by the banks and big business, a fiat currency could work. A primary function of money is to be a store of wealth, that's the very reason money of any form was ever used, so we can defer one side of a trade - without losing the value of the trade. Unfortunately our fiat currency fails this need and history shows all fiat has always trended to zero value eventually. I'm really interested as to whether people believe the future of our fiat currencies will be any different, and what happens if/when the population realise the currency is toilet paper.
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Debt based economies need to find ever more businesses and people willing to take on ever more debt. This drives empire and war as newly acquired assets allow business, and the military, to expand. The businesses, and military, need funds to expand so take on debt with the banks/lenders. So, the banks/lenders endlessly encourage/fund war. This has been the way of the west. We are also seeing the wealth of the middle class siphoned to government, and probably it's destruction (for now). This is ideal for government that wants more control and socialism. Fiat currencies have always failed eventually because they have few restraints and allows easy abuse by weak, maybe corrupt, politicians - IMO.
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@BeeChomper I agree. Perhaps any financial system that relies on the intelligence, honesty, and restraint of politicians will always be doomed........
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@pauldandurandboots Inflating the number of I.O.Us beyond the value of resources and productivity is systematic to fiat currency. We always have inflation and it will eventually take the value of each I.O.U ever closer to zero. Even the 2% inflation target of most central banks will doom a fiat to fail one day, it's inevitable.
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