Comments by "Dr. Ricco Lindner" (@Dr.RiccoMastermind) on "You’ve got no money in the bank" video.

This was a very good explanation of this topic! 😎 And as a consequences, the whole of public debt then is clearly being the "money" of the private (or rather non-government) sector. Paying back all the public debt is not only pointless to do but would de a Desaster for the private sector. "Money" is not growing on rich people or produced by companies or workers. It all comes from the government/treasury/central bank, which essentially are one entity
6
@charliemoore2551 yes indeed! So that is why we as a society can and should only spend for and build what workers can actually do or what else required ressources are (or can be made) available. Not spending to much money on non-productive stuff, not on to scarfe ressources bit also not telling around there is not enough money, wenn capacities are still greatly available (companies producing below 100%, workers still unemployed) - that is where we ate now in many countries
3
Dear Richard, have you already considered to kind of team up with Steve Keen? 🙏😊🇩🇪 I'd really love all prominent heterodox economic thinkers joining together. At least in Germany they seems to have to many differences - which is weakening the heterodox power and influence 🫤
3
@JB_inks sorry 😉
2
@margaretmacneill3133 yeah, just double-entry bookkeeping. The numbers are just shifted to some other accounts, but not erased, since alle the public debt equals to private assets and finally add to their equity. So repaying or true canceling of public debts makes no sense - if its in the countries own currency 😉 Different story with foreign currency debts 🙈
2
@RichardJMurphy I hope you find some common understanding in most points 😊🙏
2