Rajendra Rasu | Monetary Standard and Poverty |

“They're the predictable breaking point of a flawed monetary architecture.”

When was the last time the mainstream economics cabal talked about ensuring full employment in India? Although the entire gang of mainstream economists agrees that full employment is the first macroeconomic objective, their economic thinking is the biggest hurdle to ensuring full employment of available real resources!

This is the difference between a country that understands the monetary system and one that remains trapped in household-budget myths. For decades, #India has chased the dream of raising manufacturing to 25% of GDP, yet it has remained stuck between roughly 14% and 17%. #China, meanwhile, has built a manufacturing powerhouse that accounts for around 28% of global manufacturing output. The lesson is obvious: a currency-issuing government doesn't have to "find the money" before it can build productive capacity. It has to mobilize real resources, workers, engineers, machines, tools, technology, raw materials, and infrastructure, and use its fiscal capacity to coordinate them. China understood that accounting numbers don't create factories; factories create accounting numbers. Administrative competence and sustained public investment transform an economy. Endless "reforms" without mobilizing real resources are not a magic wand; they're just another excuse for inaction. #MMT

If you still believe your taxes and government bond sales are what "pay for" a $1.15 trillion defense budget, then you've bought into one of the biggest myths mainstream economics, Zionists, and mainstream media have ever sold. That's exactly the narrative promoted for decades by orthodox economists and much of the corporate media to keep the public confused about how a sovereign currency issuer actually spends. None of the mainstream media or economics textbooks ever ask the obvious question: What happens after Congress authorizes the spending? Once the National Defense Authorization Act is passed and Congress appropriates the funds, where does the money actually come from? What role does the Federal Reserve play in clearing government payments? Why are people told that taxes and bond sales "finance" spending when a currency-issuing government spends by instructing its central bank and banking system to credit accounts? These are the questions the mainstream rarely wants the public to ask. Instead, they keep repeating the convenient fiction that "there's no money" for healthcare, education, or jobs, while hundreds of billions, or even trillions, can be authorized for military purposes with remarkable speed. That's the illusion #MMT challenges: not by denying the existence of real resource limits, but by exposing how the monetary system actually operates.