Dylan Moore of the Volitional Science Network and Nima Mahdjour of EconomicsJunkie.com welcome WARREN MOSLER to the Volitional Science Network. Warren is the founder of Modern Monetary Theory and the foremost expert on the subject. Warren weighs on the several subjects we have covered up until this point, as well as dropping several bombshells about the functioning of the economy and the utter incompetence driving most economic problems. We cover:
-Why MMT is so distasteful to conservatives (and everyone else)
-How US bonds don't fund the government
-How interest rates ACTUALLY affect the economy
-What quantitative easing does to the economy (virtually nothing), and why everyone freaks out about it (and why they shouldn't)
-What actually happened during the banking bailouts of 2008 (it's nothing like we've been told)
-Basics of the banking sector
-How the US is utterly overtaxed and the damaging economic effects of transactional taxes (sales tax, VAT, etc.)
-Proposing an idea: wiping out ALL federal taxes and replacing it with a base 5% property tax. No more IRS.
About halfway through the video we experience some minor connection problems. We decided to cut our videos to improve the connection.
Part 2 - Basics: What you've never been told about the economy
Part 1 - Intro: Gold isn't money and the national debt is great
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