Comments by "Gordon Wilson" (@gordonwilson1631) on "What is Modern Monetary Theory? by Richard J Murphy" video.

  1. It’s all Government policy choices. By the UK Government with its Central Bank but not the devolved administrations. Austerity is what the Tories and other Neoliberal political parties do anyway but under different names and policies.
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  2. Two things need clarification. 1. If Government creates "all" the money, what are private commercial banks doing when THEY create money (as bank credit) for all the "loans" which make up 97% of the money supply, according to The Bank of England Q1 2014 Bulletin? I know The BoE creates reserves in response to this "lending" (ref. BoE Working Paper No. 529). Is that what you mean? 2. Would there have to be money transfer controls once again and not globalised money anymore (I am not against this)?
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