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  <title>#147 Dirk Ehnts: Do Markets Control Our Politics?</title>
  <description>Patricia and Christian talk to economist and author Dr Dirk Ehnts about the ongoing fallout from UK Chancellor Kwasi Kwarteng’s mini-budget, exchange rates, bond yields, the mechanics of the Eurozone payments system, and the push-pull relationship between commerce and governance. &amp;amp;nbsp; Please help sustain this podcast! Patrons get early access to all episodes and patron-only episodes: https://www.patreon.com/MMTpodcast &amp;amp;nbsp; For an intro to MMT: Our first three episodes: https://www.patreon.com/posts/41742417 Episode 126 - Dirk Ehnts: How Banks Create Money: https://www.patreon.com/posts/62603318 &amp;amp;nbsp; All our episodes in chronological order: https://www.patreon.com/posts/43111643 &amp;amp;nbsp; All of our episodes with Dirk Ehnts: https://www.patreon.com/posts/44467243 &amp;amp;nbsp; Quick MMT reads: Warren’s Mosler’s MMT white paper: http://moslereconomics.com/mmt-white-paper/ Steven Hail’s quick MMT explainer:  https://theconversation.com/explainer-what-is-modern-monetary-theory-72095 On government debt: “Some Numbers Are Big. Let Me Help You Get Over It”:  https://christreilly.com/2020/02/17/some-numbers-are-big-let-me-help-you-get-over-it/ &amp;amp;nbsp; Dirk Ehnts on Twitter: https://twitter.com/DEhnts &amp;amp;nbsp; Dirk Ehnts’ website: https://www.dirk-ehnts.de/en-us/ &amp;amp;nbsp; Things that came up in this conversation: Our episodes on government bonds: Episode 30 - Steven Hail: Understanding Government Bonds (Part 1): https://www.patreon.com/posts/29621245 Episode 31 - Steven Hail: Understanding Government Bonds (Part 2): https://www.patreon.com/posts/29829500 &amp;amp;nbsp; Episodes on monetary operations: Episode 20 - Warren Mosler: The MMT Money Story (part 1): https://www.patreon.com/posts/28004824 Episode 126 - Dirk Ehnts: How Banks Create Money: https://www.patreon.com/posts/62603318 Episode 13 - Steven Hail: Everything You Always Wanted To Know About Banking, But Were Afraid To Ask: https://www.patreon.com/posts/41790887 Episode 43 - Sam Levey: Understanding Endogenous Money: https://www.patreon.com/posts/35073683 Episode 84 - Andrew Berkeley, Richard Tye &amp;amp;amp; Neil Wilson: An Accounting Model Of The UK Exchequer (Part 1): https://www.patreon.com/posts/46352183 Episode 86 - Andrew Berkeley, Richard Tye &amp;amp;amp; Neil Wilson: An Accounting Model Of The UK Exchequer (Part 2): https://www.patreon.com/posts/46865929&amp;amp;nbsp; &amp;amp;nbsp; Episodes on inflation: Episode 7: Steven Hail: Inflation, Price Shocks and Other Misunderstandings: https://www.patreon.com/posts/41780508 Episode 65 - Phil Armstrong: Understanding Inflation: https://www.patreon.com/posts/40672678 Episode 104 - John T Harvey: Inflation, Stagflation &amp;amp;amp; Healing The Nation: https://www.patreon.com/posts/52207835 Episode 123 - Warren Mosler: Understanding The Price Level And Inflation: https://www.patreon.com/posts/59856379 Episode 128 - L. Randall Wray &amp;amp;amp; Yeva Nersisyan: What’s Causing Accelerating Inflation? Pandemic Or Policy Response?: https://www.patreon.com/posts/63776558 &amp;amp;nbsp; Sign up for Professor Bill Mitchell’s online MMT 101 course (Sep 14 - Oct 12 2022):  https://www.edx.org/course/modern-monetary-theory-economics-for-the-21st-century &amp;amp;nbsp; Details of Modern Money Lab’s online graduate and postgraduate courses in MMT: https://modernmoneylab.org.au/ &amp;amp;nbsp; Sign up for alerts from The Gower Initiative For Modern Money Studies about their forthcoming MMT book: https://gimms.org.uk/ &amp;amp;nbsp; A list of MMT-informed campaigns and organisations worldwide: https://www.patreon.com/posts/47900757 &amp;amp;nbsp; We are working towards full transcripts, but in the meantime, closed captions for all episodes are available on our YouTube channel:  https://www.youtube.com/channel/UCEp_nGVTuMfBun2wiG-c0Ew/videos &amp;amp;nbsp; Transcript for opening monologue: https://www.patreon.com/posts/72906436?pr=true &amp;amp;nbsp; Show notes:  https://www.patreon.com/posts/72906421?pr=true </description>
  <author_name>The MMT Podcast with Patricia Pino &amp;amp; Christian Reilly</author_name>
  <author_url>https://www.patreon.com/MMTpodcast</author_url>
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