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Basically, what the advocates of MMT argue is that their policy can
overcome the fundamental contradictions of capitalism itself. In other
words, reformism.

John Reimann

On Wed, Feb 12, 2020 at 8:55 AM MM <marxmai...@gmail.com> wrote:

> On Feb 12, 2020, at 11:07 AM, John Reimann via Marxism <
> marxism@lists.csbs.utah.edu> wrote:
> Yes, debt does have to be repaid. Or, put another way, the US government
> does have to pay back those loans/bonds and T notes, or at least there has
> to be confidence that it will do so. At some point, as the world becomes
> flooded with dollars, the only way that the US government can maintain that
> confidence will be to increase the interest rate paid on those instruments.
> Does anybody think that won't have an affect?
> The US only has to issue bonds and T-bills because it’s a discretionary
> legal requirement imposed by Congress; there is no other basis for that
> requirement. I realize you aren’t going to read any of the materials that
> deal with all of this, but I’m not going to waste any more time dealing
> with fundamental misunderstandings like this. They’ve been dealt with at
> length in the MMT literature.

*“In politics, abstract terms conceal treachery.” *from "The Black
Jacobins" by C. L. R. James
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