Somehow research gets published which contradicts the basic propositions of mainstream monetary theory yet it just gets buried and the commentariat continue on as before sprouting the myths that now occupy us on a daily basis. In February 2010, the Bank of International Settlements (BIS) published a working paper (No. 297)- The Bank Lending Channel Revisited – which falls into this category. It argues categorically that the mainstream propositions about money and banking are incorrect and uninformative. Its essential insights confirm the fundamental propositions of Modern Monetary Theory (MMT) – which when translated into the policy space – would suggest that monetary policy is not the ideal tool to resolve a major collapse in private aggregate spending and that fiscal policy will not drive up interest rates and crowd out private spending. Why these papers are suppressed in the public domain by the commentators makes for interesting speculation – all of which impugns the motives of those who hold themselves out as experts but, in fact, just peddle lies. The problem for all of us – but more so the unemployed and poor – is that they are influential lies.