The error of establishment economists is to continue to think in gold standard terms that have not been correct for 47 years now.

Taxes do not fund spending now that we are off the gold standard. Taxes give fiat money its value since the only exchange method one can use to pay a tax debt is the taxing nation’s fiat currency. Cryptocurrency will continue to wildly gyrate in value unless backed by something of tangible value or the full productive capacity of a sovereign nation’s productive capacity.

By advocating the end of fiat currency and a move to money without the needed elasticity, you would doom Earth to destruction by global warming, as crypto’s inflexibility would leave nations unable to mount a global Green New Deal. There will be no progressive agenda till those advocating it understand how our current monetary system works.

Here’s a podcast with Profs. Stephanie Kelton and Bill Mitchell, both economists, explains why that is so.

If you want a Green New Deal and a bright future for our kids, I implore you and all who read this to learn the lies that Lewis Powell, Milton Friedman, and other far-right operatives with massive backing form greedy billionaires and corporations used to reclaim the wealth the middle class and trade unions had wrenched from them. They had it all back in the gilded age, and after Barry Goldwater lost to Lyndon Johnson in 1964, conservatives funded by the Kochs and their cronies crafted plans to claw it all back.

Their lies about economics they used are taken as truth these days because their master rolled out nationwide and grew to cover the free world. The plan’s four key points were as follows.

1. Get conservative justices on SCOTUS.
2. Set up a nationwide network of far-right think tanks to craft propagandistic slogans and inject them into the meme.
3. Take over media and make its content more and more right-wing.
4. Shape what future leaders were taught by using their wealth to corrupt education.