Malcolm Reavell
@auchentrachle.bsky.social
Ex bank employee, ex soldier, ex-aircraft engineer, ex-IT manager, now trying to put the world to rights before our leaders kill us all.
"tax the rich" will not solve this. We need to kill Thatcher's "government as household" paradigm and replace it with the truth about the money system..
March 26, 2025 at 2:21 PM
"tax the rich" will not solve this. We need to kill Thatcher's "government as household" paradigm and replace it with the truth about the money system..
A reminder that Thatcher's "government as household" analogy traps us in a degenrate narrative that will always end in austerity.
March 26, 2025 at 12:10 PM
A reminder that Thatcher's "government as household" analogy traps us in a degenrate narrative that will always end in austerity.
These quotes keep surfacing. The creator and issuer of the "greenback", he apparently didn't like paying interest to private banks. This is from a speech made after the civil war, and shortly before he was assassinated.
March 25, 2025 at 2:02 PM
These quotes keep surfacing. The creator and issuer of the "greenback", he apparently didn't like paying interest to private banks. This is from a speech made after the civil war, and shortly before he was assassinated.
There’s no “National credit card”, there no such thing as “taxpayer money”. Taxes are not a funding mechanism. There’s no operational dependency on what government taxes to what it can spend. It can never run out of £, or go bust. Ever. And “fiscal rules” are complete nonsense.
March 17, 2025 at 2:00 PM
There’s no “National credit card”, there no such thing as “taxpayer money”. Taxes are not a funding mechanism. There’s no operational dependency on what government taxes to what it can spend. It can never run out of £, or go bust. Ever. And “fiscal rules” are complete nonsense.
Bbbut… "printing money"!! Weimar! Zimbabwe!
Inflation itself is not caused by "printing money". The money supply increases as a *result* of the rise in pices. It is an effect, not the cause.
Hyperinflation is a scare story. It has multiple causal factors.
Inflation itself is not caused by "printing money". The money supply increases as a *result* of the rise in pices. It is an effect, not the cause.
Hyperinflation is a scare story. It has multiple causal factors.
February 11, 2025 at 6:03 PM
Bbbut… "printing money"!! Weimar! Zimbabwe!
Inflation itself is not caused by "printing money". The money supply increases as a *result* of the rise in pices. It is an effect, not the cause.
Hyperinflation is a scare story. It has multiple causal factors.
Inflation itself is not caused by "printing money". The money supply increases as a *result* of the rise in pices. It is an effect, not the cause.
Hyperinflation is a scare story. It has multiple causal factors.
Does this mean we can just "print money" and we'll all get rich? No, of course not. There's no limit to the amount of £ govt can *create*. There's a limit to what it can *spend*. The limit is the real goods and services available to purchase in its currency.
February 11, 2025 at 6:03 PM
Does this mean we can just "print money" and we'll all get rich? No, of course not. There's no limit to the amount of £ govt can *create*. There's a limit to what it can *spend*. The limit is the real goods and services available to purchase in its currency.
Tax the rich as much as you like to erase their wealth and power, but never because we need their money to pay for stuff.
So, why do we need taxes?
So, why do we need taxes?
February 11, 2025 at 6:03 PM
Tax the rich as much as you like to erase their wealth and power, but never because we need their money to pay for stuff.
So, why do we need taxes?
So, why do we need taxes?
All arguments about having to “tax the rich” are futile. It plays into their narrative. Our taxes aren’t needed to fund government spending. There’s no operational dependency on what government taxes to what it can spend. Linking taxes to spending is a total disaster.
February 11, 2025 at 6:03 PM
All arguments about having to “tax the rich” are futile. It plays into their narrative. Our taxes aren’t needed to fund government spending. There’s no operational dependency on what government taxes to what it can spend. Linking taxes to spending is a total disaster.
Whatever is achievable is affordable. Never let a Tory tell you they “can’t afford” something, or they’re “giving the NHS all the money they can”. It’s a lie. With the knowledge of how our money system really works we can hold to account these liars.
Exhibit A: A liar:
Exhibit A: A liar:
February 11, 2025 at 6:03 PM
Whatever is achievable is affordable. Never let a Tory tell you they “can’t afford” something, or they’re “giving the NHS all the money they can”. It’s a lie. With the knowledge of how our money system really works we can hold to account these liars.
Exhibit A: A liar:
Exhibit A: A liar:
If the government deficit isn’t big enough the economy rescesses. It doesn’t matter how much the government spends, (it can never run out or go bust), what matters is what it is spent on and who gets the money!
February 11, 2025 at 6:03 PM
If the government deficit isn’t big enough the economy rescesses. It doesn’t matter how much the government spends, (it can never run out or go bust), what matters is what it is spent on and who gets the money!
Us, the private sector, that’s where. One person’s income is always the result of someone else’s spending. When government spends it sustains a deficit, so that the households and businesses have a surplus which we need to function, to spend and save.
February 11, 2025 at 6:03 PM
Us, the private sector, that’s where. One person’s income is always the result of someone else’s spending. When government spends it sustains a deficit, so that the households and businesses have a surplus which we need to function, to spend and save.
It’s not a “debt”, it’s not a “loan”. Yes, the government account goes overdrawn, but so what? It can’t run out of money. A currency issuer is where money comes from. Whatever it spends has to go somewhere, someone else gets a surplus.
February 11, 2025 at 6:03 PM
It’s not a “debt”, it’s not a “loan”. Yes, the government account goes overdrawn, but so what? It can’t run out of money. A currency issuer is where money comes from. Whatever it spends has to go somewhere, someone else gets a surplus.
Thatcher lied because if we believe the government is like a household and must “balance the budget” she could be excused when she didn’t fund, or when she privatised, and sold off to her sponsors, public services—energy and water… and the NHS. Thatcher's "dogmas" exposed:
February 11, 2025 at 6:03 PM
Thatcher lied because if we believe the government is like a household and must “balance the budget” she could be excused when she didn’t fund, or when she privatised, and sold off to her sponsors, public services—energy and water… and the NHS. Thatcher's "dogmas" exposed:
The difference between a currency user and a currency issuer is critical. We, the “taxpayers” are currency users. The government that imposes and collects tax, is the issuer. It creates money when it spends, we can’t (apparently it’s illegal). They know Thatcher lied.
February 11, 2025 at 6:03 PM
The difference between a currency user and a currency issuer is critical. We, the “taxpayers” are currency users. The government that imposes and collects tax, is the issuer. It creates money when it spends, we can’t (apparently it’s illegal). They know Thatcher lied.
It’s not true what the grocer’s daughter said. This may be a shock, but there’s no such thing as “taxpayer money”. She lied. There’s only government money, and if government doesn’t spend enough money into the economy, taxpayers don’t have money to pay taxes. Or live on.🧵👇
February 11, 2025 at 6:03 PM
It’s not true what the grocer’s daughter said. This may be a shock, but there’s no such thing as “taxpayer money”. She lied. There’s only government money, and if government doesn’t spend enough money into the economy, taxpayers don’t have money to pay taxes. Or live on.🧵👇
Thank's Muskrat.
January 23, 2025 at 3:25 PM
Thank's Muskrat.
Well, that's me screwed on Twitter. I suggested a Trump supporter espousing his racist and extreme right wing views should try drinking bleach if he thought Trump was such a genius. Maybe because American sense of humour doesn't do irony maybe.
I can no longer post or comment or like.
I can no longer post or comment or like.
January 23, 2025 at 10:06 AM
Well, that's me screwed on Twitter. I suggested a Trump supporter espousing his racist and extreme right wing views should try drinking bleach if he thought Trump was such a genius. Maybe because American sense of humour doesn't do irony maybe.
I can no longer post or comment or like.
I can no longer post or comment or like.
The best form of money is that which has no intrinsic/ commodity value. When banknotes became acceptable currency it stabilised the price of gold and therefore other prices. But with no forex facilities, gold was still required for foreign trade.
January 6, 2025 at 12:52 PM
The best form of money is that which has no intrinsic/ commodity value. When banknotes became acceptable currency it stabilised the price of gold and therefore other prices. But with no forex facilities, gold was still required for foreign trade.
2/2 The above is Adam Smith ("Wealth of Nations", 1776), quoted by James Taylor in his book, "The Mystery of Money Explained" (1862).
Taylor continues:
Taylor continues:
January 6, 2025 at 12:14 PM
2/2 The above is Adam Smith ("Wealth of Nations", 1776), quoted by James Taylor in his book, "The Mystery of Money Explained" (1862).
Taylor continues:
Taylor continues:
1/2 Some might say this is communism by today's standards of mainstream political criticism.
January 6, 2025 at 12:14 PM
1/2 Some might say this is communism by today's standards of mainstream political criticism.
Seeing sooo many tweets about “costing the taxpayer…”, “taxpayer’s money…” it really rips ma knittin’.
When govt spends it ADDS to the private sector. What it is spent on and who benefits is another matter, but it’s NOT a cost to taxpayers. Learn to reframe the argument.
When govt spends it ADDS to the private sector. What it is spent on and who benefits is another matter, but it’s NOT a cost to taxpayers. Learn to reframe the argument.
December 20, 2024 at 7:49 AM
Seeing sooo many tweets about “costing the taxpayer…”, “taxpayer’s money…” it really rips ma knittin’.
When govt spends it ADDS to the private sector. What it is spent on and who benefits is another matter, but it’s NOT a cost to taxpayers. Learn to reframe the argument.
When govt spends it ADDS to the private sector. What it is spent on and who benefits is another matter, but it’s NOT a cost to taxpayers. Learn to reframe the argument.
What’s the difference between Keir Starmer and a kipper? 👇
December 18, 2024 at 10:10 AM
What’s the difference between Keir Starmer and a kipper? 👇