Douglas

[Douglas @Douglas1453476]

@Babayahoo777 @LibertariansDP The labour theory of value is a fallacy. If labour created all value, we should destroy every labour savings device invented in order to make production more "valuable". This is obviously absurd.

[Douglas @Douglas1453476]

@Handre Is that what MMT states?

[Douglas @Douglas1453476]

@mises Sure.

[Travis Brewer @brew56200]

R.I.P. (Rest In Pieces) Austrian School of Economics

[Douglas @Douglas1453476]

@Handre Inflation is primarily cost push not demand pull.

https://t.co/SS3C78Nm3Z

[Douglas @Douglas1453476]

@MiltonFriedmanW Government gets the central bank to create the money first, then it spends, that money is distributed as wages and salaries, and then is recalled via taxation to repay the loan which created it. Friedman didn't even understand this basic process.

[Douglas @Douglas1453476]

@jbhearn @petrock Wrong.

[The REAL Social Credit @RealSocred]

The Creditary Nature of Money in Post-Scarcity by Jim Schroeder:

"The Austrian School of economics maintains that money originated as a high-saleability commodity selected by market forces to reduce barter friction, treating credit as a secondary mechanism backed by pre-existing physical savings. This paper demonstrates that the Austrian foundational model rests on dual empirical and operational fallacies: the myth of commodity money and the myth of absolute physical scarcity. Drawing on A. Mitchell Innes’s credit theory of money, modern balance-sheet mechanics, C.H. Douglas’s Social Credit analysis, and the realities of modern industrial capacity, we show that money has always been credit—a system of clearing debt—and that credit creation precedes both savings and physical production. In a technological era characterized by systemic capacity abundance, holding to gold-standard or loanable-funds assumptions misdiagnoses the nature of financial capital, misunderstands the true drivers of inflation, and severely distorts macroeconomic analysis."

https://t.co/UCwYUY0sDj

[Douglas @Douglas1453476]

@wealthmoose You dont need foreign investment.

[Douglas @Douglas1453476]

@BeautyWentFirst OCA? 🤷‍♂️

[Douglas @Douglas1453476]

@RonSwanonson If you hold $1 for 10 years, that $1 will end up being worth...

$1.

Thanks captain obvious.

[Douglas @Douglas1453476]

@CoinMarginalX Austrian school of economics is bunk.

[Travis Brewer @brew56200]

R.I.P. (Rest In Pieces) Austrian School of Economics

[Douglas @Douglas1453476]

@idiom_bytes The EU's GDP is 71% of the US.

[Douglas @Douglas1453476]

@NeoRothbardian The Austrian school of economics is not only Jewish, it is also wrong.

[Travis Brewer @brew56200]

R.I.P. (Rest In Pieces) Austrian School of Economics

[Douglas @Douglas1453476]

@StocksandDares Money is created as debt.

[Douglas @Douglas1453476]

@KonradJaku11615 @dividendology You make $3,500 per annum?

[Douglas @Douglas1453476]

@danheld I'm going to use Bitcoin for jewelry or electronics?

[Douglas @Douglas1453476]

@theswansjr Government can seize Bitcoin what are you talking about.

[Douglas @Douglas1453476]

@theswansjr Money creation does not work the way you've outlined. Most money is not "printed". This is just Austrian school of economics bs.

https://t.co/hVQ1xzTO7v

[Travis Brewer @brew56200]

R.I.P. (Rest In Pieces) Austrian School of Economics

[Douglas @Douglas1453476]

@theswansjr No.

[Douglas @Douglas1453476]

@thesupermanmx What is "factual". Define "facts".