PoorNoMore — ஏழைகளே இல்லாத உலகம்

As economy and economic policy making is full of complex and difficult to understand terms and words,  common people or their representatives are not able to contribute to the policy making with total understanding and conviction, even though it is policies which directly determine their livelihood and survival. The lack of participation of common people, who are the main stakeholders, in this discourse gives space for misrepresentation of facts and fraudulent interpretation, leading to monumental exploitation and continuing fraud on almost entire humanity. That's how it is possible to institutionalise a system which works to corner the benefits of production and wealth in favour of few people, wrongly citing scarcity of capital as reason. To defeat this diabolical structure, it has to be told in a simple language, so that the truth will reveal itself.  Whoever understand the system of money creation and supply, they will immediately see the falsehood practiced in the name of ...

Warren, could you elaborate on your point that the purpose of exports is to get imports?  https://www.youtube.com/watch? v=Bxt50yigGEM Warren: The dynamics in Europe with the Euro were that Europe was set up based on the  traditional mainstream export model  and what an exporter does; what somebody who desires to export does is,  they keep fiscal policy tight  and the Maastricht Treaty was set up to keep fiscal policy tight, three percent deficit limits, sixty percent debt to GDP with some enforcement provisions for violators; at the same time this is much what Germany did when Germany had its own currency, the Mark and was exporting. However what this policy does is, it keeps domestic demand down, but it also makes the currency harder to get, so it makes the currency strong  and so what Germany did, what Japan did, what China does is, they then go out and buy foreign exchange to keep their currencies weak enough, to keep their real wages and the real cost ...

Our response to the RBI report with editorial assistance by Warren Mosler.      Internationalisation of INR should be a natural progression from strengthening the local economy; that is, without realizing the full productive potential of the country, thereby making the country attractive for investors, internationalising the currency is like putting the cart before the horse.        Understanding the currency system, as that is the one which determines the fate of the economy, is the basic prerequisite before even thinking about the policy options for the country. Any policy structured without this understanding results in totally wrong direction, affecting the livelihood of every single person in the country, particularly the downtrodden. If internationalisation of INR is structured based on policy options & market responses of foregone currency system, then it could lead to negative consequences. Internationalisation of INR happens to the extent ...

  Causes of Global Economic Woes and Inflation: A Comprehensive Analysis Published by Save to Mem · 03/07/2023 https://twitter.com/IndiaMmt/status/1589615974021738496 🪄Smart summary: The thread discusses the causes of the current global economic problems, such as inflation, and how the pandemic has exposed the weaknesses of the current economic model. It also examines how countries like Japan, China, Switzerland, and Zambia have managed to keep inflation low. The thread then goes on to explain how the global supply chain disruption, the OPEC price increase, and the Ukrainian war have all contributed to the current economic woes. Finally, it argues that the mainstream media's attack on Modern Monetary Theory is misguided and that proactive steps must be taken to address ------- What is the real causes of the present problems faced by the global economy? What causes the sudden increase in inflation? How is inflation low in Japan, China, Switzerland and Zambia? Why is there renewed a...

(Proposal dated 20th September, 2020 represented here) The purpose of the proposal is to show the common man, policymakers, Government & other stakeholders that it is possible to achieve full employment and price stability through sustainable development of villages, in a country like India which is resource rich.  And we are providing a model & structure to do that.   Is  it  possible to have a workable structure to achieve this?   India occupies top 3 position in cultivation of many of the farm produces. To sustain and get the maximum benefit out of this, we need to streamline the entire process. This strength is not utilized to get maximum economic benefit to farmers, farm workers and villages. We  need an innovative structure to get the best possible outcome.  Farmers not getting adequate return is a perennial problem in India; produces like tomato thrown to landfill due to excessive supply is a regular occurrence, conveying lack of pl...

  Impact of external trade on the economy of a country varies vastly based on (i) whether the currency is convertible on demand to gold/$ or it is a non-convertible fiat currency with no intrinsic value and (ii)whether the country's currency is exchanged with other countries' currencies at fixed rates or floated in the forex market, so the rates will keep reflecting the demand and supply.  If it is convertible fixed exchange rate currency system, like gold standard or gold exchange standard, it requires building forex/gold reserves, as the central bank may have to buy its own currency in the foreign exchange market using its foreign currency reserves to maintain the fixed exchange rate; and the reserves should be sufficient to back the circulating currency. If it is fiat non-convertible floating exchange rate currency system, then the forex/gold reserves will not be required to back the circulating currency (as there is no promise to convert currency into gold/$ on demand) but...