> Just ask Venezuela how monetary production with collapsed supporting production works out. Yeah, this isn't how it works at all. Not surprising that people l

> Just ask Venezuela how monetary production with collapsed supporting production works out. Yeah, this isn't how it works at all. Not surprising that people like you don't grasp very basics but try to think this through carefully: Governments can and do regularly summon and dismiss debts out of thin air. It's the very definition of sovereign. Venezuela's problems, like all sovereign debt problems before and since (see Germany, Zimbabwe, Rome), are due to its external dependencies. It has external debts. That means it participates in relationships where it is not a sovereign. Do you really think if Venezuela didn't need to import certain items (and therefore didn't need to borrow dollars) it would have any problems at all? And so no, "monetary power" actually has nothing to do with production capacity.