Trump's claims that he's making taxes more democratic for the people, but it actually is a vast sucking of income and wealth upward.
Michael HudsonI think something like three-quarters of American currency is held abroad, by drug dealers, by tax evaders, Russians and Chinese. Other people think that they want to protect themselves against their own currency going down. When you have 75% of the currency and even more of the high-denomination $100 bills held abroad, you wonder whether these are people we really want to pay. If you get rid of the $100 bills, its foreign holders will be the main losers.
Michael HudsonGovernments create money and spend it into the economy by running budget deficits. The paper currency in your pocket is technically a government debt.
Michael HudsonDebtors will seek to cancel their debts. Creditors will try to collect, and the more they succeed, the more they will impoverish the economy.
Michael Hudson