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Very useful.
Very clear and easy to follow.
Thanks
It’s surprising how hard these are to do
What you say is, of course, correct….. but I have to be honest. The boxes yesterday about “old” and “new” were fantastic and I understand the desire to use the technique more broadly but I am afraid this one doesn’t work so well. It may simply be too many boxes….. but when I mentally try to trim them I always end up removing something important.
However, would lines 1, 2, 4 and 6 alone work?
PS I like the new line 1 “understanding” contrasted to “beliefs”
I struggled with this
Can it be simpler?
Yes.
But does that leave too many loose ends open?
Maybe
And are they meant to be answers anyway?
Or are they provocative in the sense of intending to generate discussion?
I think the latter
But I appreciate the comments
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Excellent. Taking Clive’s point, I wonder if changing the box shape & colour of the Headings might make it seem shorter? Could Boxes 2&3 on Creation & Monopoly be combined? eg “All money is a state monopoly and is created by Government or banks under licence”
Will muse…
This is great.
It would be brilliant to have this as a YouTube video where the boxes scroll down the screen with some sort of voice-over adding a bit of an explanation to each pair of boxes. I’m saying this with full awareness it’s not easy to do. But maybe someone will volunteer?
I am going to be working on youtube soon….
I have agreed a collaboration to create a youtube channel
BUT I have a massive workload for the next two weeks
Very clear, when will Financial Times journalists and editors get it?
One of the problems is the current economic, money and banking system has changed over the years to the above. But people are still under the impression that the money they have is some how linked into an amount of gold silver etc.
I imagine a new country one minute after midnight. There would be no money, therefore there would be very little business activity and no money in the economy that the government could tax.
When the government has created money and put it in the economy. Then it is in a position to tax for the reasons you have given in the past. Plus economic activity can happen as the sovereign money now exists.
Think Scotland
I do not think there is actually any difference between number 2 on both sides; the comparison of ‘Most’ and ‘All’ should just be ‘All’ on both sides, save only perhaps for “under licence…” and only because old beliefs (understanding) did not usually point this out?
The issue is the belief that they’re different
As someone still getting my mind round all these ideas, can I tentatively make a point?
That is, that “money” has a meaning to you which is more technical than anything the average member of the public (or for that matter politician) thinks about. This is most obvious in box 3 where “money is created in the private sector” would get nodding agreement, wheras what they are actually thinking is “personal wealth is created in the private sector”. It hasn’t occurred to most people that money is something that could be created at will.
True…
great stuff Richard, works really really well for me (though I do agree that a change to the headings would have fractionally eased the speed at which I started to understand what I was looking at).
Fab.
Not all money is created by Govt.. look at Bitcoin and the many variations. One of the reasons this will grow is the fear of central banks debasing the value of their fiat currency.
Bitcoin is not money
“Bitcoin is not money“
Says who? It is certainly moving towards being a medium of exchange.. and potentially blows a hole in MMT
With respect, that may be your fantasy but it’s simply not true
This would work better if you provided all the reasons Bitcoin is used. Then the reason it is used in many cases. Then the reason this raises some real problems. Then you will have supplied sufficient reasons for readers to see for themselves that this is a really bad idea.
Interrogating tax havens is a breeze for tax authorities compared to Bitcoin.
With one word; Brilliant !
Clear, succinct and informative