A note for MMTers

Not that Snippa will take note:

For it was not merely the government that had over-borrowed. The central bank had borrowed from private banks to maintain a fixed exchange rate with the dollar that kept down the price of imports: imports of food and fuel, for everyone, and of luxury goods, for the rich.

You can’t control both the quantity of the money and also its price. If you print lots more then the value will go down.

4 thoughts on “A note for MMTers”

  1. Its Jellyballs Johnson’s only plan. Print,print,print.

    Then give it to Greenshite–so they can waste it and leave us ever less productive–or give it to Tory Konstruction Kronies for crap we don’t need.

  2. The snipster did visit Beirut in Nov 18, and wrote about all the things that he thought were being done wrong. You’d think his scatter gun list of criticism would have included a bullet labelled “don’t mess with markets”. But no.

  3. “You can’t control both the quantity of the money and also its price”

    Surely you mean you can’t control the quantity of money and its value when priced in other currencies? Every central bank controls the quantity of money and its price, the price being the interest rate needed to borrow it.

  4. How right you are Jim. Whatever else he thinks he understands Tim hasn’t a clue about money . My film ‘ Money for Nothing ‘ on YouTube spells it out .

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