The way Trump is trying to spin this backing down as a victory is pathetic! This is a victory for the rest of the world...if we take the opportunity to decouple every country, business, household and individual from the US economy. Find new places to buy what you need. Time for a multipolar world!
Reposted from
Kara Swisher
It was the bonds and not any alleged Trump plan — he got spooked and rightly so www.washingtonpost.com/business/202...
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It could be “programmed” to decay in value, creating a “spend it now” versus “hoard it” dynamic
But it’s just Keyne’s Bancor updated to current technology
Keynes realized that humans just create money.
1/.
Where we tend to think of money as something that already exists that we have to “find”.
Like “tax payer money” we have to find to pay for, eg, healthcare
But really our government just creates our currency & banks create loans (and shadow banks create other financial assets).
Also, crypto is a private asset
Our Constitutionally established Public Money is our Public Monopoly
Which Trump has seized, as all Fascists do
Money is also a legal contract enforced by the state