Activist #MMT - podcast podcast

Ep95: Graham Elwood: Discussing debt ceiling and #MintTheCoin (as a guest on his show)

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1:00:58
15 Sekunden vorwärts
15 Sekunden vorwärts

Welcome to episode 95 of Activist #MMT. Today I talk with progressive video journalist and stand-up comedian, Graham Elwood, about the debt ceiling, #MintTheCoin, and the myth that "printing money causes inflation". Graham and I first spoke in June 2018, when I introduced him to MMT [parts one and two], only four months after discovering it myself. Although primitive, our initial talk has been seen by thousands and every now and then, I still receive kind emails from people who happen to catch it. The experience was special especially because viewers can witness Graham’s eyes open up more than once.

(As a brief aside, neither Graham nor I realized that he was actually introduced to MMT eight months earlier than that, when a patron submitted an article written by Stephanie Kelton. Although the term MMT never comes up.)

In the middle of our conversation, we talk about the very common myth of “printing money causes inflation" I still have much to learn, but I think I hit on some important points, and put enough out there to call the myth into question.

The heart of our conversation, however, is on the false debt ceiling crisis and its only immediate solution, which is #MintTheCoin. We start off by discussing the true difference between national debt and personal debt. We then talk about where the debt ceiling came from, and how it’s seen from several different contexts and perspectives. And how, except for those who wish to deceive, it’s multiple layers of nonsense.

We end with #MintTheCoin, which is the only legal solution available right now, which the president can do by merely deciding to do it. It’s a ridiculous solution, but would end the crisis immediately and legally, and would prevent real world suffering from millions of people. The platinum coin, however, has the potential to do much more than end the next debt ceiling crisis. In the words of Joe Firestone, the author of the only full-length book on the subject, a big enough coin would be “a revolution“ that “would change politics for the forseeable future.“

Our conversation is based on two of my MMT resource posts, links to which you can find in the show notes. My posts are based on the works of Joe Firestone, Rohan Grey, and others:

And now, onto my conversation with Graham Elwood. Enjoy.

Resources

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    Welcome to the first Activist #MMT candidate interview, hosted by Ramona Massachi, and co-hosted by me, Jeff Epstein. Today we talk with candidate Jason Call who is running in Washington state’s second congressional district, against a twenty-year incumbent that Jason calls "arguably the most corporate-conservative Democrat in the Washington state delegation." This is someone who benefits from large donations from corporations that pollute and exacerbate the climate crisis, among other things. All MMT candidate interviews Jason Call for Washington State's 2nd Congressional district Imani Oakley for New Jersey's 10th Congressional district Neal Walia for Colorado's 1st Congressional district (A big thanks to Beyond the Spectrum for the "MMT Candidate" logo.) In 2020, Jason came within one percentage point of placing second in a district where the top two candidates, regardless of party, move onto the general election. He earned around 35,000 votes on a shoestring budget of $50,000. For the upcoming primary in August 2022, he’s going to need a lot more than that to breach the top two, and have an actual policy debate with a candidate who has little to offer beyond moderately less abuse than the Republican. You can support Jason‘s candidacy by visiting callforcongress.com (that’s F-O-R, not the number 4). There are three goals of this MMT candidate interview series: the first is to support and give a platform to candidates who care about all people, and because of this, are ignored by the so-called news outlets that are, in reality, news of, by, and for the rich. The second goal is to determine what these candidates need to beat corrupt opponents supported by a corrupt party in a corrupt campaign finance system, and especially, once in office, to avoid becoming corrupted themselves. Finally, the third goal is to create a community of like minded, MMT-aware candidates who can support each other through their campaigns, and especially once in office. The latter is in order to remain focused on what really matters, which is all their constituents, in an environment where there is overwhelming pressure to focus only on the needs, favors, promises, and especially money of big donors – both in and out of their district. If you’re a candidate and would like to be interviewed by Ramona, please contact Ramona directly on Twitter at @RamonaMassachi, or by writing me at [email protected] If you like what you hear and would like to support this interview series and this podcast, please consider becoming a monthly patron at patreon.com/activistmmt. And now, onto our conversation with candidate for Washington state’s second congressional district, Jason Call. Enjoy.

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