Hello. We are diving into the wreckage. We're six point something. I'm going to

provisionally say seven but I think there's two six point fives. We're so prolific we can't keep track at this point in time or

that's another way of saying the debt crisis has been so long that it's

getting into redundancy.

So we're going to have to deal with a couple of different things

today.

We're going to have to deal with some contingents between Marxist

and MMT years.

One of the interesting things about MMT years and a lot of Neocansians is they will argue that sovereign debt is the same thing as sovereign currency creation because of the nature of the Fed.

And I'm just going to go ahead and say there's some truth to that.

If you're dealing with a currency that has strong 4X value.

So the dollar, like there actually is a truth to the amount of the dollar

to existing is actually directly tied to

government bonds created to create money etc. That's true enough. What matters however is who that money's owed to and how it's owed and if it flows out and a bunch of other things.

This leads to basically the great debate over whether or not,

basically, the basically the declining rates of profits makes sense.

Now, government debt being tied into this doesn't immediately seem to affect that, right?

It's like, okay, what does it have to do with profit rates?

If currency is all that matters, then profit rates should respond to positively to the to the creation of more

currency in the creation of more federal debt. This is in the MMT world.

This is one of their fundamental arguments.

Yeah.

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