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A short 6 minute video from Professor Stephanie Kelton explaining a state currency system and the concepts of deficits and so called debts when thinking about sovereign currency issuing governments.

https://www.youtube.com/watch?v=8W1zA_CgYMk

Comments

Autumn Cote Added Jul 10, 2017 - 5:36am
Because you frequently comment on the work of others, if you had offered some of your own thoughts on this video, I would have promoted this article to our email distribution list.   
Tubularsock Added Jul 10, 2017 - 12:29pm
BDS, Tubularsock got excited with this currency information. Planning the new TUBEMARK and a distribution system through the TUBULARSOCK BANK OF COMMERCE.
Did Tubularsock mention that he is the CEO with and expense account?
Interesting video, thanks. 
John G Added Jul 10, 2017 - 1:59pm
I thought it better to let the video speak for itself and respond to the thoughts of all our self proclaimed financial experts.
Jeff Michka Added Jul 10, 2017 - 3:49pm
John G mentions: all our self proclaimed financial experts.-Can't wait to read the commentary of WB's "Carl Sagan" numbers of the financial experts you speak of.  Ah, if Gutenberg was still with us...a new Bible...  LOL
Autumn Cote Added Jul 10, 2017 - 4:24pm
You're obviously free to think that.  However, I re-state, if you want me to promote your articles to my email distribution list, you'll have share more than just a link to a video clip.  
John G Added Jul 10, 2017 - 6:17pm
Fair enough. I'm genuinely interested on what the great pontifications here think as much as anything.
I suspect they'll avoid it because they have no way to refute the truth.
Jeff Michka Added Jul 10, 2017 - 7:43pm
Enter your comment here...
Jeff Michka Added Jul 10, 2017 - 7:44pm
John G sez: because they have no way to refute the truth- When has that stopped any of them from trying?
John G Added Jul 10, 2017 - 8:51pm
Regularly. Ask them a question they can't answer and they go silent.
John G Added Jul 11, 2017 - 2:51am
Note that Romey, Corey, Jackson, Swenson and all the monetary gurus haven't had anything to say. It it directly addresses the major issue that they like to pontificate about but they won't/can't respond.
How sad and intellectually bankrupt they are.
Jeff Michka Added Jul 12, 2017 - 9:33pm
Ah, those steadfasts!!! Seems they all vanished, unable to out do each other's theories or even have one of their own.  Won't/can't does cover it.
Paul Robbins Added Jul 15, 2017 - 10:27am
Texas had taken a giant step to dampen the control the FED has on its citizens and its commerce.
The State of Texas is setting up a gold-backed bank that will allow depositors to bypass the controversial Federal Reserve System and its fiat currency in banking and commerce, according to the state representative who authored the recently enacted law. Under the measure, passed overwhelmingly by lawmakers and signed in mid-June by Republican Governor Greg Abbott, Lone Star State officials will establish and operate the Texas Bullion Depository for anyone who would like to deposit and trade in precious metals. The implications are as big as Texas.
While some analysts have said the move may be another sign heralding Texas’ eventual secession from the union, or preparation for financial Armageddon, its advocates say the depository simply makes financial sense. Among other benefits, the institution will provide more options to consumers weary of the increasingly troubled traditional banking and monetary system, which is viewed by the public with growing suspicion. And experts say the effect of making it easier to use sound money in commerce could be far-reaching.  
Among other immediate effects, the law creating the first state-level gold-backed bank in the nation, target="_blank">House Bill 483, will involve repatriating about $1 billion of Texas gold from New York. Conflicting news reports and official statements say the state’s precious metals stockpile is being held either by HSBC in New York, or by the powerful New York Federal Reserve Bank, a privately owned outfit cloaked in secrecy with immense power over the U.S. economy. First, though, officials will need to select a home for the Texas depository.   
 
John G Added Jul 15, 2017 - 6:11pm
The article is about money. Not gold.
Paul Robbins Added Jul 16, 2017 - 12:00am
Gold is intended to be used as currency....replaces what you call money.....fiat dollars...
Paul Robbins Added Jul 16, 2017 - 12:07am
BDS?  Is this part of the Palestinian thought?  Boycott, Divestment , and Sanctions ...????  You sure you want this on your page?  Freedom Justice, and Equality are communist and Marxist trademarks.  Be careful with that...
John G Added Jul 16, 2017 - 2:44pm
Freedom, justice and equality are bad things in your little mind?

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