When discussing the #NHS in terms of privatisation I always think it's useful to equate what neoliberals and the private sector are doing to it as akin to a parasite infecting its host. The goal of a parasite isn't to kill its host but to extract energy to allow it to grow. 1/11
Ultimately the parasite seeks to reproduce and spread, much the same as private providers offering and supplying public services has spread and increased over the years. So what is the "energy" these parasites are extracting, and how do they know they won't kill their host? 2/11
The energy source in the case of the NHS is the Treasury, the "energy" itself is the national currency. These parasites know that the currency issuer (government) has an unlimited ability to create the currency, and provided the public doesn't learn this fact, they can 3/11
Sit there and extract the currency into perpetuity. This is why the argument of "they'd have privatised by now if they wanted to." holds no water, they don't want to privatise it entirely, consumers can go broke, the Treasury can not. Why sacrifice a guaranteed source when 4/11
you can just capture it for your own ends?

So what is the answer to this infestation of our public services? Much the same way as a doctor learns to diagnose and treat the condition with the required medication, so must we the British public, learn to recognise this 5/11
Parasitic relationship and deny them of their ability to extract the national currency for their own ends. The great british public must take some time, learn at least the basics of functional finance and #MMT and begin to pressure their MPs to excise these parasites forever.6/11
To ignore the economic reality of how our monetary system works allows lobbyists their much too close relationships with MPs to continue to abuse our system for their own benefit whilst foisting erroneous narratives that we are unable to finance unprofitable services meant 7/11
For the public good.

The reality is that provided there is labour willing to be trained or available to work in the sectors required, and provided we have access to the materials and goods to develop the infrastructure and goods needed, the currency could and should be 8/11
Provisioned by government for the good of its people. The public has been convinced that we are somehow short of the currency our government issues, that somehow business for profit is exclusively more "efficient" despite lowering quality of service and customer satisfaction.9/11
It is #NHS70 today. The best gift you can offer the #NHS is to promise to be an informed voter who will learn how the government provisions itself, how you can demand the treatment to rid it of these parasites, and how to demand that if your MP wishes to be elected in 10/11
Future that they must prove they understand these processes too and will do something about it.

Any MP ignoring these basic truths or suggesting government is like a household is implying that the host depends on the parasite and as such should not be allowed in office. 11/11

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More from @consbyname

Jun 22, 2018
For me the biggest insight regarding #MMT isn't that taxes aren't needed prior to spending but that bonds are for monetary policy not fiscal. The big scary borrowing everyone hammers on about so much is nothing more than savings opportunities with an interest rate set by the BoE.
This realisation opens up important discussions about whether these savings opportunities are being provided on a fair and equitable basis, or indeed, whether they should exist at all in this format given the misinterpretation of their function.
Whilst eliminating interest on government "debt" may well be desirable, it would also eliminate safe savings opportunities for those in the private sector. For me personally, if a ZIRP were to be implemented then an offer should be made for individual savers. This may be in the
Read 7 tweets
Mar 23, 2018
No problem, will take a while so bear with me.

As the issuer of the pound sterling, all £s originate via the UK government. In order for the UK to be able to claim back £s for taxes it must have spent those £s into existence by purchasing goods/services for use by gov. 1/?
In the UK our unit of account is denominated as the £, the US the $, Japan the ¥. Via the Treasury and Central Bank, the UK government controls and owns the unit of account. The £ is simply a measure of a relevant obligation/debt in relation to a good or service in that unit. 2/?
In laymans terms, we price things in our unit of account. A TV is not priced as 700, it is £700 or equivalently if we were measuring in dollars $990. The TV is a real thing, the obligation attached to it however is not, it is a measure of the price in the required unit 3/?
Read 22 tweets

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