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I did wander around Twitter for a time, you are probably right that many younger generations get “news” from such sources, and that it is derivative of legacy media. It does worry me that a lot of it gets filtered through “Influencers” who no one ever vetted or voted for nor had a career promotion upwards to journalistic competency pathway.

But hellsbells, I did not browse your whole reading list, but this one triggered my bullsh*t detectors:

The Case for a New Bretton Woods by Kevin P. Gallagher and Richard Kozul-Wright — mostly garbage? Since the fixed exchange rate concept is nuts.

By “New” B-W I would hope they actually mean “Nothing at all like Bretton-Woods”.🤣 B-W was an artificial constraint which needlessly constrains the abiding government’s policy space. So… not good.

Their “hero” (US Treasury Secretary, Henry Morgenthau) was the villain who defied Keynes and installed the USD as the gauge. What a cretin. If we do that all over again it is more USA superimperialism all over again.

The “debt crisis” they rail against is the height of silly fear-mongering, and betrays a total lack of comprehension by those authors of the monetary systems. The debt crisis is a made-up crisis. We can do without people raising false alarms causing political headless chickens piddling around debating about fake crises. There are enough real crises to worry about. Government debt is not one of them, not even foreign-denominated debt. It is a purely political problem, not a financial problem.

Any nation owing the IMF any penny should just default. The fraud was the IMF loan in the first place. (Which was due to “gold is the money” mindsets.) If the US Army invades and demands the scorepoints get wiped to zero through export resource extraction then this would be an unprecedented moment in history. If they deploy the Economic Hitmen, that would not be unprecedented, and so needs to be guarded against. However, before such a nation defaults they’d better understand MMT, otherwise they risk becoming another Argentina. Although, perhaps not, since didn’t Mexico default on the IMF? They have not come out the other side too bad I’d say.

The wise among us need to put “Bretton-Woods” to rest, it is a town in New Hampshire is all. That’s where you go to “return to Bretton-Woods”.

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