Oddbean new post about login | logout Here is the FAQ from the makers of this film. https://findingmoneyfilm.com/faqs/ Special section on Bitcoin. Check it out. https://media.tenor.com/caczjyaqktwAAAAC/giggle-laughing.gif
This thing is... crazy. We'd not need a currency if it weren't for taxes... My question is, does this make sense to anyone with a brain? > Taxes are essential! Please don’t get the impression that taxes are unimportant. Taxes are what drive the entire monetary system to begin with. Without a money tax on a population, that population would have little use for a specific currency, and indeed it is unlikely a market could function at all in the way we know it.
The level of stupidity here is jaw dropping. On Bitcoin "nor does it improve the payment system (which does indeed need improving- transactions should be fast and almost free)" Saying the existing payments systems do not need improving is absurd. It shows ignorance. There are MANY issues with all of the current payment systems. This includes those on bitcoin. These people are clowns.
They even have the nerve to mention the "global south" in the bitcoin section... If there is any part of the world that needs bitcoin its the poor nations of the world which have been taken advantage of by fiat currency nations for decades. Its these unbanked people that need bitcoin the most. MMT polices hurt these people the most yet they have the nerve to suggest bitcoin is bad for them simply because they didn't get in soon enough... Not sure if they've noticed but none of us got into fiat soon enough. Not sure they've checked the distribution of wealth and power in fiat land. It isn't pretty.
Yeah the MMT stuff is crazy.
