“Max quizzes me about the failure of negative interest rates, the promise of a Green New Deal or a Trump infrastructure package, and about Ray Dalio’s failure of capitalism claims.
I raised the spectre of energy rationing (once we properly comprehend the seriousness of the climate threat); the danger of abolishing cash when those who control money don’t understand it; depreciating money (as proposed by Silvio Gesell) as in principle a good idea (one that could be adopted on Mars, but not feasible on Earth); the madness of QE; the need for infrastructure investment in the USA; the Saudi Arabian threat to sell their oil in currencies other than the US$; and proposals for an alternative basket of currencies to the US$.”
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