Monetary Theory

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Joshua Mawhorter

While it is true that colonial era governments sometimes burned paper money after receiving it in the form of taxation, why they burned the money is for reasons other than what MMT advocates are claiming. In the end, the MMT promoters are telling a false history.

Joshua Mawhorter

Even when MMT advocates are correct that colonial governments at times burned money after receiving it for tax revenues, they still manage to get both the history and the causes wrong.

Michael S. Milano

Governments have so corrupted money that we forget that sound money, by providing both fungibility and privacy, has been a defense against overreaching governments. While sound money is in the interests of citizens, governments have managed to destroy it.