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Piccalilli Pit
Truth To Power
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Comments by "Piccalilli Pit" (@piccalillipit9211) on "Truss Or Sunak: How Much Does It Really Matter?" video.
IF YOU PRINT YOUR OWN CURRENCY and that is not linked to gold - then the only purpose of taxation is to control INFLATION. This is how it works. You decide what you want to spend money on. You print that money. You spend that money. The injection of cash devalues the currency/causes inflation so you TAKE BACK that money and you destroy it to control this. You will note - BORROWING DOES NOT FEATURE - national debt is an unnecessary fiction and its just a way of giving rich people free money >>> The idea that you can only afford what you can tax is utterly preposterous cos you literally have a MONEY PRINTER. when inflation was 1% we could have been massively spending on public services and running inflation at 3%. Why didnt we...??? TO KEEP INTEREST RATES LOW, this allowed companies to borrow to buy back shares, this makes wealthy people lots of money, and to keep house prices going SKY HIGH to keep home owners voting Troy. 100% of government spending is discretionary - a COUNTRY does not in any way operate like a household budget. Imagine winning a credit card with an infinite limit you never had to pay back - but if you use it too much the price of things goes up a bit... THAT is modern monetary theory.
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