Reply to post: Re: Marx would be proud

Labour: Free British broadband for country if we win general election

Dave314159ggggdffsdds

Re: Marx would be proud

"where it becomes the magic money tree is that they simply print new bonds to pay back the old"

No, that's just government debt. The Magic Money Tree is actually the idea that the only reason we don't just print money to fund the government is that some nefarious international conspiracy of 'bankers' are already doing so and stealing the proceeds. It is nothing more or less than the very thinly disguised, standard, centuries-old, antisemitic conspiracy theory that has been used as an excuse for pogroms, mass-murder, and The Holocaust.

It's always worth asking MMTers why the Weimar Republic suffered hyperinflation. It's either money printing or those people that chap with a moustache blamed it on in the thirties, and they don't believe it's money printing.

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