MMT is just printing money. It is no different than the rule in Monopoly that the Bank can't run out of money.
It is neither new or modern and every society/civilization that has tried it has collapsed. The USA has been employing it since the 2007-2008 recession and the USD is worth about 2 cents (it was about 3 cents before China virus).
It used to be called QE, and when banks talk about it to people they use very deceptive language. I remember a bitcoin talk with the local banker telling us the virtues of MMT/traditional banking, how they can print more money, make people "Earn" more money, recover stolen money, etc. They never once mention where this money comes from, how people are secretely creditors to the bank, how bankruptcy laws for banks vs consumers work (hint you lose everything), how inflation works, why banks try to avoid deflation, credit runs, bank runs. Apparently according to the local jew all sunshine and rainbows over here! /s
Don't forget the money for mortgages are created out of thin air.
They used to be underfunded, so a bank needed something like 10% of collateral. It was already crap in the late 2000s in terms of actual collateral required by the banks, but thanks to the kikes, we now have 0% collateral which is atrocious.
It is neither new or modern and every society/civilization that has tried it has collapsed. The USA has been employing it since the 2007-2008 recession and the USD is worth about 2 cents (it was about 3 cents before China virus).
It's actually been official policy since Nixon took the US off the gold standard in 1971. But before that FDR took the US off the gold standard in 1933 when he confiscated gold from private citzens (they don't teach you THAT in history class). Unless you're trading actual gold, all paper ends up being turned into government counterfeit money (fiat). MMT is just a recognition that yes, we DO have fiat currency as an official policy.
They weren't printing crazy amounts of money before the 2007-2008 recession though.
Yeah, they were. It's just even more crazy now. Every new crazy makes the old crazy seem tame.
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