------
Note: To the people in the back of the room who don't read, this is not an endorsement of MMT. I'd insert my Austrian bonafides here if I could.
------
Many Bitcoiners bash MMT as "nonsense", and thus lose arguments with statists before they even start. It would serve them well to understand the framing within which MMT is meant to be used.
MMT strictly limits itself in scope to money derived from monopoly violence. It is actually axiomatic in MMT that all money is derived from the barrel of a gun. MMT generally and chartalism specifically, asserts that the money must be ESTABLISHED by a state via force, and in order to do so, it must have something to ENFORCE. Thus the primary purpose for taxation under MMT isn't funding gov't programs, but rather to give the gov't a means to force and enforce the use of its fiat. Taxes exist to force us to use their money. This seems to be true. MMT is exceedingly accurate and descriptive with regard to money emitted by power centers with monopoly on legal violence. However, there is no room or intellectual tools within the MMT toolkit to analyze or predict the effects of a money that emerges independent of violence and coercion.
This is why when Ron Paul asked Ben Bernanke if gold was money, Ben responded "no".
MMT is totally unequipped for discussions related to bitcoin. When trying to orange pill an MMTer, you must first deal with their primary axiom.
It isn't that they believe that money CAN'T emerge organically. It is that they acknowledge (correctly) that OUR money HASN'T emerged organically and cannot persist organically.
So when talking to them, don't insult their theory. Don't quote Rothbard or Mises; it's a waste of time and you are casting pearls before swine. Acknowledge that MMT is useful for money that exists via force, but that you are working to build a world where money no longer requires force to persist.
Branden / Branden with an E
npub1czj…5p68
2024-05-06 03:57:29
Author Public Key
npub1czjh5y554ycs0s7k299qsdt3se4g33n67ygdpargduk6mzerpaaqvt5p68Published at
2024-05-06 03:57:29Event JSON
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"content": "------\nNote: To the people in the back of the room who don't read, this is not an endorsement of MMT. I'd insert my Austrian bonafides here if I could. \n------\n\nMany Bitcoiners bash MMT as \"nonsense\", and thus lose arguments with statists before they even start. It would serve them well to understand the framing within which MMT is meant to be used.\n\nMMT strictly limits itself in scope to money derived from monopoly violence. It is actually axiomatic in MMT that all money is derived from the barrel of a gun. MMT generally and chartalism specifically, asserts that the money must be ESTABLISHED by a state via force, and in order to do so, it must have something to ENFORCE. Thus the primary purpose for taxation under MMT isn't funding gov't programs, but rather to give the gov't a means to force and enforce the use of its fiat. Taxes exist to force us to use their money. This seems to be true. MMT is exceedingly accurate and descriptive with regard to money emitted by power centers with monopoly on legal violence. However, there is no room or intellectual tools within the MMT toolkit to analyze or predict the effects of a money that emerges independent of violence and coercion.\n\nThis is why when Ron Paul asked Ben Bernanke if gold was money, Ben responded \"no\".\n\nMMT is totally unequipped for discussions related to bitcoin. When trying to orange pill an MMTer, you must first deal with their primary axiom.\n\nIt isn't that they believe that money CAN'T emerge organically. It is that they acknowledge (correctly) that OUR money HASN'T emerged organically and cannot persist organically. \n\nSo when talking to them, don't insult their theory. Don't quote Rothbard or Mises; it's a waste of time and you are casting pearls before swine. Acknowledge that MMT is useful for money that exists via force, but that you are working to build a world where money no longer requires force to persist.",
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