https://www.ft.com/content/fadfbd9e-29ca-4d53-b69a-2497cc3ed95d
Discussion
is there any other source besides taxation?
in individuals: money serves to exchange between community
in nations: money supply ( all money in circulation ) is imported for the well-being of the whole nation
simple terms:
too much ( inflation )
too little ( deflation )
where the supply money comes from is important
there is no such thing as a magic money tree
all the money in circulation is for the well-being of the nation
most money in “developed nations”
comes from commercial banks and private citizens and institutions
mortgages dominate this in a nation like = US-UK and many others
2008 CRUSH
central banks created TRILLIONS of NEW MONEY at that time in the economy bc of the CRISIS
inflation appeared = 2008 ( creating more money to keep the economy going )
same happened in the PANDEMIC ( coronavirus )
same is happening in the WAR ( RUSSIA )
CENTRAL banks creating money doesn't work
NATIONAL TREASURY TO CREATE MONEY DIRECTLY
PROBLEM: creating money and spending money
really is a magic money tree
nations have the power to do it bc of sovereignty
( they created it interest-free and without banks' permission )
they can send a check for $1B to a hospital builder
and the hospital appears on the ground
( there is a money magic tree )
this affects TRUST and INTEGRITY
in societies and NATIONS
sometimes GOVTs are less trusted than private enterprises, yet private enterprises also are the target of mistrust
So,
NONE trust GOVTs and CORPORATIONS ( private entities )
SUPREMELY IMPORTANT:
TRUST and INTEGRITY in institutions and communities
3 types of creating money:
- commercial banks ( LOANS)
- central banks ( PRINT )
- sovereign national treasury ( direct spending into economy )
this DOES NOT WORK
₿ BITCOIN BANK FIXES IT
Stephanie Kelton ( economist )
she was a leading professor at Missouri University
proposed to distinguish:
- the OLD money
- the NEW money
THE DEFICIT MYTH
https://books.apple.com/us/book/the-deficit-myth/id1462923369
TABS ( OLD thinking )
tax & borrow to be able to spend
STABS ( MMT thinking )
spending, then mitigate by taxing & borrowing
MMT = 1st spend = GOVTs
build all the hospitals that nations need
build all the universities that nations need
( 1st spend then tax & borrowing )
( not tax and borrowing to build )
MMT = describes currency as a public monopoly
BLAIR - FIX ( political economist ) TORONTO
investigated what the trustworthy CPI number is
see in the graph how gasoline affected CPI
( bc of COVID. no one was using cars )
check this out
the Chicago Plan. IMF working paper
average Household =
- non-constrained household
- constrained household ( has debt / pays rent )
economists sometimes ignore the distinction between non-produced assets
natural assets = land / natural energy / electromagnetic
produced assets = machines / buildings
just 6 pages ( read it )
solution = BITCOIN
now: BITCOIN WOODS
lower taxation
LAND TAX HAS TO BE NATURAL TO RETURN TO THE PLANET WHAT WE USE FROM THE EARTH
Tyler Cowen
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AMAZON = FOREST DEPENDS ON SPACE AND LAND
Amazon is land but we also need to tax rent’s value
( it’s virtual space ) ( it’s also land )
SO MANY multinationals choose jurisdictions to avoid taxes
( e.g. Uruguay )
Starbucks = land value tax ( physical )
LET'S MAKE TAXATION MORE NATURAL
where everyone prospers from that
other: Hong Kong – remarkable
( uses the value of its location to fund infrastructure )
other: Singapore – "housing"
( the state is the landlord of housing )
that's so good
WHAT DO NATIONS DO WITH OWNERSHIP OF LAND?
some of them give rights to private corps…
it's hard for politicians nowadays to say:
LAND TAX VALUE FOR ALL
WE NEED TO RAISE OUR GAME
WE. All of US
we all have to play our part
it’s not a quick fix
LOOK AT THE NATIONS’ FINANCES…
WE NEED TO TAX FIRST IN ORDER TO BUILD
universities
hospitals
( DOES NOT WORK )
destroys the nature of taxation
TRUST = spend 1st. into existence
give 1st and trust
HOW CAN WE CHANGE THE PERSPECTIVE ON OWNERSHIP OF LAND?
WHY GOVTs have the power?
INDIGENOUS PEOPLE?
VERY IMPORTANT = LAND RENT
LAND VALUE TAXATION
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taxing land value
such a tax would be economically efficient and morally just
but it has been politically impossible
the landowning interest, which now includes a large part of the population as owner-occupiers, is too strong
this is a tragedy
western politicians face low growth, strained finances, high inequality, intergenerational tensions, and financial instability
urging a fundamental change in tax policies
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BITCOIN BANK replaces IMF
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WE END WWIII ( BITCOIN )
nostr:nprofile1qqsgydql3q4ka27d9wnlrmus4tvkrnc8ftc4h8h5fgyln54gl0a7dgspz4mhxue69uhhyetvv9ujumt0wd68ytnsw43qz9nhwden5te0wfjkccte9ehx7uewwdhkx6tpdsr5yary what do you think about allocating all donations to BITCOIN BANK ?
BITCOIN FISCAL POLICY
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