Comments by "Grim Affiliations" (@grimaffiliations3671) on "What Happens When a Country Defaults on Its Debt?" video.

  1.  @thetapheonix  The government taxing you is doing it to create value for the currency. if you're currency isn't backed by anything, taxes become even more important
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  2.  @thetapheonix  Only fake government currency is illegal, you design your own
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  3.  @thetapheonix  Of course you can, as long as you don't try to pass it off as the governments currency. Also you're "scam" label wouldn't be accurate even if it were illegal to make any kind of fake money
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  4.  @thetapheonix  How does that make it a scam? Taxes give us price stability, and they give people a reason to go out and be productive, which is good for all of us
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  5. No, a country can not be saved by any currency but it's own. If you use someone elses currency, you do not control it. This means the market can influence your interest rates, which is a recipe for disaster. Greece leaned this the hard way when it abandoned its currency in favor of the Euro
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  6. it will never come. Because pegging your currency to a commodity would wreak havoc on your economy and massively limit your ability to respond to challenges/disasters
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  7. greece messed up when it abandoned its currency to join the Euro
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  8.  @jwdory  "way out" implies we're in trouble. We're not. The national debt is just a stockpile of US treasuries so it could just as easily be called the national savings account. And it's nonsense to say the US is close to insolvency
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  9. Poor countries need to abandon that harmful advice of the IMF. They need to focus completely on energy and food independence. They also need to avoid the trap of borrowing in other peoples currency. Fadhel Khaboub goes into this in depth
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  10. no
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  11.  @thetapheonix  You can create money if you want, the monopoly board game does it all the time. Some stores do it too, they give you store credits
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  12.  @jwdory  No we're not. Schweikert is a politician with little understanding of how the federal government operates as a currency issuer
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  13. nope
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  14. You can only do that if the debt is in your own currency. Countries like the US, Japan, Canada, China and Aaustralia can do this
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  15. Pakistan should listen to MMT. it is a branch of economics that focuses on monetary sovereignty. To have monetary sovereignty you must 1) stop taking up debt in foreign currencies. 2) become food and energy independent
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  16. Your statement is true so it doesn't really work as sarcasm. There are no parallels between a monetarily sovereign nation like the US and the countries mentioned in this video
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  17. nah, they hanged themselves by not pursuing monetary sovereignty
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  18. no true
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  19. no, by abandoning their currency in favor of the euro
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  20.  @Srbenda126  So? If you take up debt in someone else's currency, they can do whatever they want. Russia wouldn't need to care about their accounts being frozen if they had their debt exclusively in their own currency
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  21. This is why you should never take up debt in someone else's currency
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  22. ?
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  23. what if you don't need people to buy your bonds like the US?
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  24. not true at all
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  25. Lmao, you clearly have never lived in Russia. It's terrible and we have to peg our currency to the dollar
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  26. what do you mean turned their taxes into loans?
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  27. Nigeria can avoid this if the embrace MMT. Start with food and energy independence. Then stop borrowing in other countries currencies
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  28.  @MariaCorrea-mr2gy  yeah, leaving your sovereign currency for any foreign one would leave your vulnerable to bond vigilantes
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