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Old 10th October 2019, 02:41 PM   #121
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Originally Posted by !Kaggen View Post
"And, again, should there be a default event, the investor will still get full value for his investment as the entire euro value of the defaulted securities can be used at any time for the payment of Greek taxes. So while this discussion concerns the case of default, the removal of the risk of loss means there will always be demand for them at near risk free market interest rates...
I know it's far too late for me to get into this, but.

Am I the only one who has concerns about this promise of risk-free investment?
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Old 11th October 2019, 01:21 AM   #122
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Originally Posted by Tippit View Post
The forum sort of looks like a ghost town, so maybe that's one reason.
You're not helping by limiting yourself to annual visits to this forum.

Originally Posted by Tippit View Post
I hope the censorship hasn't gotten worse.
It's about the same. Calling me an idiot won't get any complaints from me but you never know when a Tippit hater is going to report a post or yours - or a mod acts without a complaint.

Originally Posted by Tippit View Post
Anyway, does anyone have any thoughts about this? Is it an idea whose time has come, or just a final repudiation of any constraints on unchecked government power forever?
You have posted too much text to expect an intelligent response. It's almost as bad as posting links to a series of hour long YouTubes.

A nutshell summary is what is needed. To me it goes like this:
SMT: Government expenditure needs to be financed by a combination of taxation, government borrowings and printing money.
MMT: Government spending increases base money, government taxation decreases base money, government borrowing has a neutral* effect on base money.

It's a little like saying that (A + B) + C is different to A + (B + C)

* I know that foreign owned banks and governments print foreign money to buy bonds and that privately owned banks complicate everything.
"The process by which banks create money is so simple that the mind is repelled. Where something so important is involved, a deeper mystery seems only decent." - Galbraith, 1975
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