gold, page-81096

interest article in the ABC today. Not sure if it has been posted already.

Still thinking about this. Don't think I agree with it. But does make the views of some of the anti gold posters a little more interesting.

https://www.abc.net.au/news/2020-07-17/what-is-modern-monetary-theory/12455806?section=business

extract:
Modern Monetary Theory: How MMT is challenging the economic establishment
By business reporter Gareth Hutchens
Posted Yesterday at 4:56am, updated Yesterday at 12:01pm

Theresa May famously said there is no "magic money tree", but MMT theorists say she is wrong.(ABC News: Alistair Kroie)ShareWe may be on the cusp of a revolution.What if everything we thought we knew about public finance over the past 40 years has been wrong?A new economic theory has emerged that could rewrite our understanding of how governments create and spend money and what type of society we can afford to build.And if it is correct, people may be furious.Because it could show that Australia's political elite can afford to spend far more than they are on public health and education, social housing, scientific research and green energy schemes, while eliminating unemployment.And yet they're not — either from a misunderstanding of government finances or because they don't want to.However, to embrace this radical economic theory you will have to forget what you've learned about budget deficits (that they're bad) and government debt (that it burdens future generations).Why?Because proponents of the theory say that far from being a problem, budget deficits are often a good thing — they can be the source of healthy economic growth.