Stephanie Keltons Colosseum
By: Crypto Corda
Tags: Communism, Mmt, Cryptocurrency, Bitcoin, Slavery

A few days ago on Twitter MMT proponent Stephanie Kelton shared a thread, in which she compared government deficits to a referee who adds and subtracts points to a game.

Her analogy was just brilliant, but perhaps from a far different angle then the one she sought to illustrate. In this article I will strive to illustrate how Stephanie Keltons idea of a pitch, where the government is the referee, perhaps far better fits the illustration of a Colosseum.

To bad kiddo, this time around the “referee” choose to subtracts some points from you, better luck next life

The idea of the noble referee

Most of us have in some aspects of out life been subjugated to playing a game in which a referee is involved. The notion of a fair and objective referee, is often a direct requirement for us to even want to play the game. If the referee just arbitrarily hands out points we will be very hesitant to waste our time with this game.

It is very hard to see a scenario in which there is not a direct causality and correlation between our will to participate in a game, and the referee being objective and fair.

The MMT view on a referee

MMT proponents would argue that the referee is per definition fair as he/she has the mandate to determine what fairness is. Already here we start going into some dark shadows, that Stepanie Kelton and most other MMT ers often choose to not specify to carefully.

Fairness is a matter of the state, and the participants in the game should not bother themselves by thinking of aspects such as fairness. The state exists to think of issues such as fairness and individuals exist to play the game.

The MMT Referee

The walk off scenario

Naturally your reaction, if you are playing a game in which the referee is arbitrarily handing out points, will be to leave the pitch. You will not bother to waste your time playing a game in which your hard earned time and effort can be diluted by a referee, who arbitrarily defines “fairness”.

You will walk off the pitch, which in practical terms will mean that you will not hold any more of set fiat currency, and you will go into hard assets such as Bitcoin.

Since only a mentally deranged person will want to waste their time playing a rigged game, we can expect that everyone will try to walk off the pitch. If everyone leaves, well then there is no one to hand out points to.

The pitch is open, the Colosseum has walls

Obviously in practical terms if everyone leaves the pitch, the velocity of money will increase rapidly and the referees points (fiat currency) will hyper inflate into oblivion.

MMT proponents fail to say what happens, when this inevitable scenario occurs. What does our good old comrade of a referee do when the participants try to leave the pitch? Illusion is a hell of a thing! Soon after you try to leave the pitch, you will oddly enough notice that there is a big strong wall surrounding it.

You are not free to leave this pitch, as it is not a football ground in an open park, it is a Colosseum of death with immense walls. If you try to leave, you will suffer the same faith as the gladiators did. The referee will in plain English hurt/kill you and your family if you try to leave.

NO WAY OUT!!!

It is okay because the slave gets to vote for his master

A MMT proponent would obviously say that this is not a Colosseum. This due to the fact that you have a democracy, in which you can vote for another leader. The level of corruptibility in a political process in which you vote for a leader, who then summits a counsel, who then perhaps can elect a central bank committee, is merely lost on those who suffer from cognitive dissidence.

The empirical proof would clearly show that the voting process has very little correlation with Central Bank action. Lets use the FED as an example, during Ron Pauls motion to audit the FED, it was believed that there was an above 90 % public approval to do an audit. Despite this no audit was done, no audit has been done since the 60 s, and no one even knows who owns the FED.

In this game there is merely the illusion that you have a say, you do not get to vote for the emperor. All that is given to you is the ability to vote for the court jester.

No matter who the slave votes for, the walls never come down. The Bible puts it ever so elegantly, “ A slave shall be good to his master, and a master shall be good to his slave” It is not that slavery is a sub segment of MMT and Keynesianism, it is the very end goal.

The dystopian dream of the death Colosseum

In the Colosseum it does not matter if you win! After your time and energy has been devoted into the most barbarian of acts, after that you have been subjugated to the time preference of a simple beast, you must look up to the stands. There sits the Empress, and she is to give a sign. It will either be a thumbs down or a thumbs up. If you get the thumbs up, well then the referee has decided to reward your act of aggression with continued life. If the Empress decided thumbs down, you will suffer death.

Thumbs up or thumbs down?

The complete demise of property rights

If the unit of account can be arbitrarily issued by the referee, well then the participants of this game can not be deemed to have any real property rights. The referee can just create points and acquire what ever he/she wishes.

Or as the MMT proponent World Economic Forum would put it “you will own nothing and you will be happy about it”.

If property right do not exist, and all the means of production are controlled by the “referee”. Well there is a name for that, we all kind of now what it is, but lets not mention the elephant in the room just quite yet.

If only Che was eternal, if only Yugoslavia thrived, if only Livorno beat Lazio

The honest truth is that as long as communism has not vanished in the hearts of the people it has not vanished at all. There is a far larger sub segment of the population that is pro communism then what we would like to believe.

We try to deny this, we want to pretend that this is not true. That is why we hesitate to call out re branded attempts at communism as such.

MMT gives the state absolute control of the means of production, and will render the same outcomes as previous attempts at this ideology have rendered.

To pretend that there is something else at play here, that there is some form of intellectual curiosity surrounding MMT, would be dishonest.

il sole non sorge più ad Est. The sun does not rise in the east!

Conclusion, Good old Josef and Mao aint got s on MMT

With today's modern surveillance capacity and transnational organizations such as the IMF, WTO etc. It becomes very easy to see a scenario of totalitarian control with limited ability to flee.

In many ways MMT in combination with the surveillance state, renders a far worst outcome then what even the likes of George Orwell could have predicted. We are truly at the abyss of mass slavery, and Bitcoin might be one of the last exit ramps that are provided.

While Stephanie Kelton is busy glorifying her Colosseum, and painting rosy pictures around it. I am busy running with all I got for the exit ramps, and honestly you should do the same.

In the Colosseum there are no winners! There are merely does who managed to climb the walls and escape and those who did not.