Will the cryptocurrency industry’s endemic fraud and risk-taking ultimately be backstopped by government bailouts, funded by taxpayers who may themselves have no exposure to crypto assets? Has crypto become too big too fail?
My latest in Businessweek: bloomberg.com/news/articles/20…
Cory Doctorow
in reply to Molly White • • •Obligatory MMT minor quibble - the government doesn't spend taxpayer money, it spends public money.
Taxes aren't piled up and re-spent - money is spent into existence and taxed out of existence.
mmt.works/mmt-taxes-do-not-fun…
FinchHaven
in reply to Cory Doctorow • • •"“There is no such thing as public money; there is only taxpayers’ money.” — Margaret Thatcher (Speech to Conservative Party Conference, 14 Oct 1983)"
Well...
There is my primary go-to regarding modern monetary and taxation theory
Got any hot quotes about MMT in the age of the global billionaire kleptocracy, where Big Swinging Dicks(tm) in brokerage house back offices create wealth just by playing games with money?
Given: must contain phrase "trickle down"
Also see: Elon Musk, Jeff Bezos et al
cc @molly0xfff
Felichs
in reply to Cory Doctorow • • •Not really. It is lent into existence, bonds, loans, etc, it is taxed out of circulation (unless respent by the gov).