One should ask Mr. Mosler: “How do you keep people playing the game if it is blatantly obvious that the referee is not following the rules anymore and is giving out points at whim?”
I assume he would be honest to admit it’s by coercion at gunpoint…
Warren Mosler explaining MMT:
“Government spending is all done by data entry on its own spread sheet we can call ‘The US dollar monetary system’ .
There is no such thing as having to ‘get’ taxes or borrow to make a spread sheet entry that we call ‘spending’. Computer data doesn’t come from anywhere. Everyone knows that!
Where else do we see this happen? Your team kicks a field goal and on the scoreboard the score changes from, say, 7 point to 10 points. Does anyone wonder where the stadium got those three points? Of course not! Or you knock down 5 pins at the bowling alley and your score goes from 10 to 15. Do you worry about where the bowling alley got those points? Do you think all bowling alleys and football stadiums should have a ‘reserve of points’ in a ‘lock box’ to make sure you can get the points you have scored? Of course not! And if the bowling alley discovers you ‘foot faulted’ and takes your score back down by 5 points does the bowling alley now have more score to give out? Of course not!”
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