Twelve... thousand... percent... increase... in... reserve... balances... and.. prices... have... collapsed!........ hello.. McFly... Buy a dog and name it "Clue" and then you will have one. The mainstream is indeed stubborn. Tom, keep up the good fight, I'm picking up a push back in progress against MMT out there. I get the feeling that I have stumbled onto a cult. Alas, I had hoped to have a serious discussion. Tom Hickey was engaging for a while. Warren Mosler is so sure of himself that it scares me. I'd love to continue with a productive discussion. Alexander, one could say that all ideologies are the basis for various cults. There is no universally accepted economic paradigm like there is in hard sciences. Different theories compete. The way to engage in a productive discussion here is to find out first what going on. To do this, go through the mandatory readings, digest them, and then pose questions/objections based on that understanding. Warren and many of the people here happen to be familiar with operations, and what's happening here flows from that understanding and the implications of it. If you think that someone is wrong about monetary and fiscal operations, then make a case for it. If you disagree with the implications drawn from application of operational rules, them make a case for that. To get traction here, you have to demonstrate that you have a grasp of operations first. Page 61: "Domestic credit creation is funding foreign savings. Assume you live in