Comments by "Dr. Ricco Lindner" (@Dr.RiccoMastermind) on "Why is modern monetary theory so important?" video.

Thank you so much for such an important pitch on MMT!🙏🇩🇪
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@adenwellsmith6908 in which country did you have "massive" deficit spending? Its relative. In my case in Germany the mainstream politicians cling so much to the current model of our "Schuldenbremse" that we do have deficit spending but mnit enough by far. We would need a modern "Schuldenbremse" which is oriented on ressources and priorities of what needs to done and where society and economy wants to see themselves in the future
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@davidmcculloch8490 to my knowledge even before digital money since the times of computers the same principle of currency issuing applied. Pegging the Dollar to gold technically didn't matter so much. There was always more money than gold, and money or value were still created from nothing, not only by printing bank notes but as other forms of paper "money" with different grades of "moneyness" So Keynsian logic principles applied even before modern fiat money. However, I'm eager to hear otherwise and learn from it 👍🏻
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@ianoliver3130 you don't need to, why? It's important that the created money is taxed away again. Interest on credit is mainly only required when private banks create money from nothing, to cover their costs and profits. Why would you need to pay interest on money used for public salaries or investments in bridges or schools or social services? The government issues it's own money. Private banks are allowed as well. Both must be controlled by the right aims and policies to ensure correct and limited spending. The difficult part is to not overspend versus taxation or credit remediation. The recent problems most states face instead is rather understanding or too much money sucked out of productive economy into financial, non-productive assets
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