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0 sats \ 2 replies \ @Undisciplined 19 Mar \ parent \ on: MMTers Vindicated by Musk — OOPS! econ
It doesn't sound like this is without a trace exactly. They're supposedly creating new money to buy stuff. Is there no record of the purchases?
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29 sats \ 1 reply \ @SwapMarket 19 Mar
I have no idea what Musk is saying by "computers send money out of nothing". payments are sent by banks to banks, via correspondent relationships. each transaction is double booked by sender and receiver. DoD etc are not banks. payments are not emails. there were fraudulent "advices of payments" in Russia in the nineties, created by newly founded fake banks with no capital in shitholes like Chechnya, but those were quickly identified.
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0 sats \ 0 replies \ @Undisciplined 19 Mar
Doesn't the Treasury make payments?
One of the other issues DOGE has brought up is payments being made from the Treasury to unknown individuals for unknown reasons, because those fields were not required in the system.
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