I watched this hoping that the MMT guys would present something compelling that I hadn't thought of before. I've been wrong so many times in life, that I like to listen to all view points. Sometimes I'm wrong.
This was not one of those times.
The 2 professors against Saif essentially argue that, deflation (prices going down) is bad, hard money is bad, and the money printer is good. The problem is the control of the money printer is in the hands of bad people and we should vote for good people to decide how much money gets printed and who gets it.
Yep. These are the professors in our universities, teaching 'economics'.
This was not one of those times.
The 2 professors against Saif essentially argue that, deflation (prices going down) is bad, hard money is bad, and the money printer is good. The problem is the control of the money printer is in the hands of bad people and we should vote for good people to decide how much money gets printed and who gets it.
Yep. These are the professors in our universities, teaching 'economics'.
The full episode is available on YouTube and podcast platforms:
youtu.be/vgsSZ4mAHfQ
open.spotify.com/episode/5KyqlZ…
podcasts.apple.com/us/podcast/351…
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The reason they are able to borrow against their assets is because of inflation. The Federal Reserve prints infinite amounts of money inflating the value of their assets. You can't tax a physical item. It has no money hidden in it. Are you going to cut the Picasso in half or take one of the wings off of their jets and sell it? What is your plan for getting money out of physical assets where there is none?
How about getting rid of inflation and stopping the mechanism that infinitely inflates the asset values allowing them to borrow more money from the banks?
How about getting rid of inflation and stopping the mechanism that infinitely inflates the asset values allowing them to borrow more money from the banks?
Billionaires don't have bank accounts like we do.
They have art collections. Yachts. Mansions. Stocks.
None of it gets taxed until they sell it. So they just never sell it.
They borrow against it instead. And live off the loans.
Pay almost nothing.
Then they die, and their kids inherit it all tax-free.
Their wealth never gets taxed. It just gets passed down.
And we wonder why the gap keeps getting wider.
Learn this and befreed! 🫡
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Our entire economy works on infinite borrowing. Kill the ability for rich people to borrow and see what happens. A better alternative is to kill the federal reserve and money printer that inflates their assets indefinitely allowing them to do this.
Billionaires borrow against their wealth TAX-FREE to pay for their lifestyle. Meanwhile, you’re paying taxes on every paycheck. I’ve got a bill to close that loophole and make billionaires pay their fair share.
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You'd be better off asking why we can't just use the money we spend on wars and redirect it to medicare for all. The problem with democrats is they always want more taxes and it never stops. You'll eventually get the rich to pay a little more, and still we won't have fixed the broken medical system. And then you'll want more.
Medicare for All would save $1 trillion per year.
No one ever asks “how will we pay for it?” when Republicans are passing tax bills that let billionaires write off their private jets and yachts.
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Funny analogy. But the game Monopoly only has a fixed number of assets that players compete to own. The real world has infinite value creation opportunities.
Anyone who doesn't understand the fundamental problem with capitalism clearly hasn't played Monopoly.
The game ends when one person owns everything and everyone else is bankrupt.
Somehow, we've built an entire economic system around this.
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Stop printing money and spending on Bullshit wars. You have the power right now without additional taxes. Quit acting like anyone but the politicians are to blame for this.
Today:
60% of Americans live paycheck to paycheck and we have the highest rate of childhood poverty of any major nation.
Meanwhile, Elon Musk owns more wealth than the bottom 53% of households and the 1% have never ever had it so good
Not acceptable
We need an economy that works for all, not just the few.
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If medium of exchange isn’t important and store of value comes first, then tell me why 99% of the world uses fiat, that constantly loses value.
Some bitcoiners want bitcoin as money and think price appreciation is counterproductive because it makes people hold bitcoin instead of spending it. Other bitcoiners want bitcoin to keep appreciating as an asset without becoming money, so it doesn't upset the government. In my ome money without its value rising, and its value can't keep rising without it becoming money. If bitcoin keeps working as designed, it keeps appreciating until it becomes money.
Money is the general medium of exchange, the thing people are most likely to trade. What you are most likely to trade is the thing in which you have the largest cash balances. Bitcoin will only become money when its cash balances are large and held by a very large number of people, and for that to happen, Number must Go Up. If bitcoin cash balances are tiny, it cannot be money, no matter how much we larp circular economies and annoy merchants to accept it only to convert it to fiat to pay their rent and staff. If bitcoin keeps appreciating until its cash balances are the largest of any cash in the world, people will use it for trade, and it will be money. You won't have to pester a merchant to accept it, because his own cash balance, and the cash balances of his landlord and staff, are mostly in bitcoin, and they all want it.
Bitcoin will have to appreciate enormously to work as money, whether you like it or not. And if bitcoin keeps appreciating, people will use it as money, whether you like it or not.
Embrace the NGU.
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I am currently of the opinion that it is likely impossible to separate money from state. I got into Bitcoin for just that. I was so hopeful and excited by early Bitcoiners who understood the mission. Now however its just a fog of KYC on and off ramps and influencers talking about stablecoins, ETFs, and Saylor. None of these allow me to pay for all my goods and services privately without permission. Yes I can do it a few niche shops or buy gift cards, but those will soon be shut down by governments, or stop due to lack of activity.
Don't fool yourself into thinking we've backdoored the government and will just use bitcoin as collateral and spend their fiat. Every conversion will soon come with requirements to prove a spotless KYC history before that is allowed. A default freeze of funds will be waiting until the risk departments at these regulated intermediaries are happy.
We've just recreated banks. Congrats.
Increased taxes will likely follow even if people do use Bitcoin as a currency hedge, effectively eliminating the nominal fiat gains.
I think Governments will never give up the power of the printer, and jail anyone who tries. Its the ultimate power to control the money. Its the ring that cannot be held or resisted.
I imagine BTC has a few years of hype gains, but the glory days are behind it. We missed our window to separate money from state. It will likely trade as a speculative token in the few thousand dollar range, but be nothing more.
A few of us will remain in the shadows trying, hoping it springs back to life. Hoping strong men and women with principles show up again
I say all of this hoping I am 100% wrong. I want people to post this 10 yrs from now laughing at me while they buy homes, coffees, clothes, fuel directly via lighting without asking permission. No intermediaries demanding ids.
Don't fool yourself into thinking we've backdoored the government and will just use bitcoin as collateral and spend their fiat. Every conversion will soon come with requirements to prove a spotless KYC history before that is allowed. A default freeze of funds will be waiting until the risk departments at these regulated intermediaries are happy.
We've just recreated banks. Congrats.
Increased taxes will likely follow even if people do use Bitcoin as a currency hedge, effectively eliminating the nominal fiat gains.
I think Governments will never give up the power of the printer, and jail anyone who tries. Its the ultimate power to control the money. Its the ring that cannot be held or resisted.
I imagine BTC has a few years of hype gains, but the glory days are behind it. We missed our window to separate money from state. It will likely trade as a speculative token in the few thousand dollar range, but be nothing more.
A few of us will remain in the shadows trying, hoping it springs back to life. Hoping strong men and women with principles show up again
I say all of this hoping I am 100% wrong. I want people to post this 10 yrs from now laughing at me while they buy homes, coffees, clothes, fuel directly via lighting without asking permission. No intermediaries demanding ids.
Is There A Monetary Solution To Political Problems?
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Going through Tether and Banks, Coinbase.etc to spend your Bitcoin will neuter Bitcoin. If it is not spent directly via lighting, ultimately all payments will require KYC and a 'clean transaction history' and a default freeze of funds before they can be converted and spent. Likely a tax form along the way. Every payment you make will get harder and harder until you are basically using Zelle again.
Why Bitcoin Must Be Used As A Medium Of Exchange
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Because you left the Gold Standard and started printing money to infinity causing endless inflation.
Pay off your house. Retire on Social Security. For years, that was the deal.
But homes are out of reach, and Social Security is being squeezed.
We must lower housing costs and protect Social Security. I’m doing everything I can to secure a stable retirement for all Americans.
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Because you idiots keep printing money causing asset prices to go up. You are the reason he is rich outside of normal market forces. Stop printing money and his asset prices stop increasing constantly unless his companies provide more value. It’s the governments fault.
Since Trump’s election:
-Musk got $680 billion richer
-Musk became the 1st trillionaire
-SpaceX got $10 billion in federal contracts
-Tesla & SpaceX paid $0 in federal income taxes
Now, Musk’s spending $442 million to keep Republicans in control of Congress.
Gee, I wonder why?
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AsyncN8 retweeted
FRANCE JUST VOTED TO TAX YOU FOR SWAPPING BITCOIN INTO A STABLECOIN.
Not cashing out. Swapping.
Today in France you pay tax when you sell crypto for euros. Trade it for a stablecoin and nothing is due.
Amendment I-3898 changes that from 1 January 2027. Swap into a regulated is taxed at 31.4%. On the day you swap, whether you ever touch a euro or not.
It passed last Friday, 38 votes to 37. The Assembly has 577 deputies. 100 showed up. The government opposed it. It passed anyway.
Now look at what else deputies have put into the same budget.
Declare any self-custody wallet worth €100,000 or more, or face fines of up to €10,000. One version wants the threshold at €5,000.
An exit tax on unrealised crypto gains above €800,000 if you move your tax home out of France. Coins on foreign exchanges and in your own wallet included.
First they tax the trade. Then they list the wallet. Then they tax you for leaving.
And it isn't just France.
Since January, DAC8 has every crypto exchange in the EU collecting your details for the tax office.
From July 2027, EU exchanges can't touch privacy coins, and cash payments over €10,000 are banned across the EU.
Europe isn't regulating crypto. It's mapping your wealth before it decides how much to take.
None of the French measures are law yet. The full budget vote is 17 November, then the Senate.
But the people who do well in Europe now are the ones who planned their exit before they needed it. A second passport. A second residency. Keys only they hold.
Not cashing out. Swapping.
Today in France you pay tax when you sell crypto for euros. Trade it for a stablecoin and nothing is due.
Amendment I-3898 changes that from 1 January 2027. Swap into a regulated is taxed at 31.4%. On the day you swap, whether you ever touch a euro or not.
It passed last Friday, 38 votes to 37. The Assembly has 577 deputies. 100 showed up. The government opposed it. It passed anyway.
Now look at what else deputies have put into the same budget.
Declare any self-custody wallet worth €100,000 or more, or face fines of up to €10,000. One version wants the threshold at €5,000.
An exit tax on unrealised crypto gains above €800,000 if you move your tax home out of France. Coins on foreign exchanges and in your own wallet included.
First they tax the trade. Then they list the wallet. Then they tax you for leaving.
And it isn't just France.
Since January, DAC8 has every crypto exchange in the EU collecting your details for the tax office.
From July 2027, EU exchanges can't touch privacy coins, and cash payments over €10,000 are banned across the EU.
Europe isn't regulating crypto. It's mapping your wealth before it decides how much to take.
None of the French measures are law yet. The full budget vote is 17 November, then the Senate.
But the people who do well in Europe now are the ones who planned their exit before they needed it. A second passport. A second residency. Keys only they hold.
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Separation of Money and state fixes this.
The Office of the Comptroller of the Currency reviewed nine of the nation’s largest banks and found all nine had policies that required, encouraged, or influenced staff to deny or limit service based on customers’ political or religious beliefs or lawful business activity.
Debanking people for their political beliefs is a threat to every American’s liberty.
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Social Security. You are forced at threat of imprisonment to pay into a fund that has a negative rate of return. When you die, your family gets none of it, even if you've never been paid. That money in any other asset would appreciate in value and go to your kids upon your death.
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All the influencers preparing their version of history and how they actually supported Matt all along. Get ready for it. We have the receipts.
Bloomberg is hot on the trail of Adam Back, Blockstream, and Samson Mow. I think all 3 are history (and not in the good way)
bloomberg.com/news/articles/…
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The companies can't say it publicly, so I will: SARB's goal is to make it illegal to transact in anything but the Rand. Control over money = control over people. For the first time, tech exists that threatens that control. @PRDG_ZA @VALRdotcom @LunoGlobal @MoneyBadgerPay
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