Lhotse

Chop wood, carry water.

[Lhotse @Pure_Baltic]

@truthpolitics76 So far we've had:

. Govt doesn't inject new £s when it spends because govt has its own banking system (or something)
. Boe can issue currency whenever it likes (due to the 1998 Act and it's monpol provisions)
. Doesn't understand what monpol is

Pure Muppetry 🤣

[Lhotse @Pure_Baltic]

@truthpolitics76 Imagine not understanding what monetary policy is or how it's implemented but saying it's not interest rate manipulation 🤣

Muppetry of the highest order.

They try to influence inflation by altering the price of money i.e interest rate manipulation (the bank rate) you dunce.

[Lhotse @Pure_Baltic]

@AntiRefied1199 @TyKeynes You are assuming any inflation arising would be caused by the measures I mentioned, right?

Plus, there's no involuntary unemployment with a JG - there's lots of info on it, have a look.

[Lhotse @Pure_Baltic]

@truthpolitics76 Laughing?

"Monetary policy isn’t interest rate manipulation- its main purpose is inflation control."

Now that is funny 🤣

[Lhotse @Pure_Baltic]

@truthpolitics76 You really have no idea what you are talking about.

You even disagree with the BoE on what monpol is.

[Lhotse @Pure_Baltic]

@truthpolitics76 You don't seem to understand the difference between monetary policy (interest rate manipulation) and fiscal policy (spending and taxation) 🤷

[Lhotse @Pure_Baltic]

@truthpolitics76 Ah, right. I'm not going to respond to your multiple posts, flailing about all over the place, I'll only respond in one place.

So you can stop the usual multiple posts tactics.

[Lhotse @Pure_Baltic]

@truthpolitics76 You said currency isn't issued. Keep up FFS.

[Lhotse @Pure_Baltic]

@truthpolitics76 Transactions like £s being injected, liabilities being created then swapped?

[Lhotse @Pure_Baltic]

@AntiRefied1199 @TyKeynes Nah, once you have the size of govt and level of JG set, it's sorted and you can observe it.

[Lhotse @Pure_Baltic]

@truthpolitics76 Ok, so, if govt doesn't need legislation to be able to spend .l(ignoring the Supply Acts etc.) .. What in your opinion happens.

[Lhotse @Pure_Baltic]

@truthpolitics76 You've found some numbers you like and somehow decided it proves something.

Explain what do you think it proves.

[Lhotse @Pure_Baltic]

@truthpolitics76 So according to you 86% of govt spending is returned via taxation, fines etc. ONS figures are around 12%

How does that defeat my argument?

[Lhotse @Pure_Baltic]

@truthpolitics76 Are they?

That's not what the BoE says.

[Lhotse @Pure_Baltic]

@AntiRefied1199 @TyKeynes Sure, you might not get it right first time but the idea holds; decide what size government you want and set the taxation level accordingly.

Let the JG (and maybe fiscal) handle the cycle.

[Lhotse @Pure_Baltic]

@truthpolitics76 Yes, it's interest rate manipulation.

Don't tell me you think it's currency issuance ...lol

[Lhotse @Pure_Baltic]

@truthpolitics76 Great!

So explain where cash management fits in to the process.

[Lhotse @Pure_Baltic]

@AntiRefied1199 @TyKeynes Nah, taxes are structural in MMT, not dynamic.

Nice try though 👍

[Lhotse @Pure_Baltic]

@truthpolitics76 Great!

So how does that prove currency isn't issued?

Of course there are inputs, it's the same as a retail bank issuing a loan.

Catch up!

[Lhotse @Pure_Baltic]

@truthpolitics76 Govt doesn't need legislation to be able to spend? Really?

Do the staff wander in to HMT and say "what shall we do today peeps?"