"The only way to generate enough money to both fund the transition to renewable energy and to climate…

"The only way to generate enough money to both fund the transition to renewable energy and to climate change-proof Australia is to print it." Alan Kohler Well said. One of the glorious cons of the 'Economy' is perpetrated by the financial industry and its political stooges. /1

They make people believe that a simple medium of exchange, created by government, is the location of society's wealth. As if money has actual value in itself, and without it a country can do nothing. Tremendously good for their business, which is to lend money. /2

But it's bits of plastic and metal of negligible value, or cells in a spreadsheet. The wealth of a nation is its resources and people, and their institutions. Money was created by government to allow all of that actual wealth to circulate. It's a tool, with no intrinsic value. /3

But when the top 1% strip mine most of a nation's money for themselves, sitting on it like a dragon on its gold, it leaves nothing in circulation to mobilise that circulation of people and resources. The actual wealth of the nation is all still there, but can't mobilise. /4

You'll get inflation then, because the vast majority starved of money will tend to raise prices to try to get things moving again. (My theory.) As the MMT people say, provided a country has spare capacity that's unused, print the bloody money to get it going again. /end