In this episode of EMS – Excellent Monetary System – Wilfred Berendsen breaks down how governments fund their activities through taxation and debt, and how central banks like the ECB influence national budgets via interest rate policies. He critiques Modern Monetary Theory (MMT), especially the version proposed by Stephanie Kelton, and explains how current financial structures contribute to inflation, inequality, and economic instability. Wilfred makes the case for transitioning to the Excellent Monetary System, a system that removes the need for taxation and promotes sustainable prosperity for all.