If you have time to view this video, please watch it – but we are warning, it is deeply disturbing. (We are reasonably certain it has not been doctored, but can’t say that with 100% certainty.)
We transcribed the jibberish as accurately as we could:
Some of the language that the [modern monetary theory] MMT, and concepts are just confusing. I mean, the government definitely prints money, and it definitely lends that money, which is why the government definitely prints money, and then it lends that money by selling bonds.
Is that what they do? They, they, um, they, yeah, they they, um, they sell bonds. Yeah, they sell bonds, right? Since they sell bonds and people buy the bonds and lend them the money. Yeah.
So, a lot of times, a lot of times at least to my ear with MMT, the language and the concepts can be kind of unnecessarily confusing, but there is no question that the government prints money and then it uses that money to um uh uh so um yeah I guess I’m just I, I can’t really talk. I don’t get it. I don’t know what they’re talking about like because it’s like the government clearly prints money. It does it all the time, and it clearly borrows. Otherwise, we wouldn’t be having this debt and deficit conversation.
So, I don’t think there’s anything confusing there.
Folks, this is the guy calling the economic policy shots over at the White House. Run for the hills.