Rate Hikes Are Inflationary, Says Warren Mosler, Godfather of Modern Monetary Theory (MMT)
b'Warren Mosler, founder of Valance Co., Inc. and author of \\u201cThe 7 Deadly Innocent Frauds of Economic Policy,\\u201d is widely viewed as the intellectual godfather of Modern Monetary Theory (MMT), a framework for understanding money and debt which underscores a government\\u2019s ability to print money to pay for goods and services without relying necessarily on borrowing or taxation. \\nMosler joins Forward Guidance to apply these ideas to today\\u2019s financial issues. He argues why a failure to raise the U.S. debt ceiling would be truly catastrophic, and he makes the case that the Fed\\u2019s rate hikes are actually contributing to inflation, rather than fighting it, because the government is printing more money in order to pay its debt. Filmed on May 30, 2023.\\n____\\nFollow Warren Mosler on Twitter https://twitter.com/wbmosler\\nFollow Jack Farley on Twitter https://twitter.com/JackFarley96\\nFollow Forward Guidance on Twitter https://twitter.com/ForwardGuidance\\nFollow Blockworks on Twitter https://twitter.com/Blockworks_\\nWarren\\u2019s website: https://moslereconomics.com/\\nWarren\\u2019s book and other writings: https://moslereconomics.com/mandatory-readings/\\n____\\nUse code GUIDANCE20 to get 20% off Permissionless 2023 in Austin:\\nhttps://blockworks.co/event/permissionless-2023\\n\\nResearch, news, data, governance and models \\u2013 now, all in one place. As a listener of Forward Guidance, you can use code GUIDANCE10 for a 10% discount when signing up to Blockworks Research https://www.blockworksresearch.com/\\n____\\nGet top market insights and the latest in crypto news. Subscribe to Blockworks Daily Newsletter:\\nhttps://rb.gy/5weeyw\\nMarket commentary, charts, degen trade ideas, governance updates, token performance, can\\u2019t-miss-tweets and more. Subscribe to the Blockworks Research \\u201cDaily Debrief\\u201d Newsletter: https://rb.gy/feusos\\n____\\nDisclaimer: Nothing discussed on Forward Guidance should be considered as investment advice. Please always do your own research & speak to a financial advisor before thinking about, thinking about putting your money into these crazy markets.\\n____\\n(00:00) Risk Of Government Unwind Would Be Catastrophic\\n(07:24) "Money Is Just A Series Of Dots Going On And Off In People\'s Bank Accounts"\\n(14:52) The Federal Reserve Prints Money\\n(19:07) The Government Spends First, Taxes and Borrows Second\\n(31:23) Permissionless\\n(32:01) Quantitative Easing Does Not Have An Actual Effect On The Economy\\n(33:17) High Interest Rates Mean More Deficit Spending\\n(48:29) Challenging The Narrative of Volcker As The Slayer Of Inflation Dragon\\n(54:00) Challenging The Wage Price Spiral\\n(01:01:13) Currency Itself Is A "Public Monopoly"\\n(01:04:04) We Are NOT In A Recession, Says Mosler\\n(01:11:21)\\xa0Is The Solution To Inflation To Cut Government Spending?\\n(01:16:30) Blockworks Research\\n(01:17:28) The Debt Ceiling\\n(01:24:08) The Dollar'