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TIL: Modern Monetary Theory (developed by university professors) suggests nations with the ability to produce their fiat currency can issue as much money as they need, and as a result, they have no pressures when it comes to financing. (This is why we need Crypto desperately!)

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https://preview.redd.it/wxyrirbnkrt61.png?width=640&format=png&auto=webp&s=571c5e4398d36600b8fafb293445d37afeba1af3

I’m not a university professor, but this Modern Monetary Theory (MMT) sounds like BS to me:

**”The idea is that under MMT, because the U.S. has the dollar, it would no longer have to borrow money; it could just print it,” says Andy Snyder, founder of Manward Digest, a column that discusses macroeconomics in Baltimore.**

This is why we desperately need cryptocurrency! These professors and economists are crazy and out of their minds, any high school kid could tell that this MMT theory is not going to end well.

Legendary investor Warren Buffett is another stern critic of MMT.

Source: [https://money.usnews.com/investing/investing-101/articles/what-is-modern-monetary-theory-mmt#:~:text=MMT%20argues%20that%20nations%20with,essentially%20has%20no%20financial%20constraints](https://money.usnews.com/investing/investing-101/articles/what-is-modern-monetary-theory-mmt#:~:text=MMT%20argues%20that%20nations%20with,essentially%20has%20no%20financial%20constraints).



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3 Comments

  1. I mean that statement is literally true. It’s not BS. They can never run out of money. But…they can not force people to value their money.

    MMT is like the end stage of not understanding they money is not the same thing as wealth.

  2. This is why holding fiat long term is a bad idea. The average retirement age in the US is 67 now, by the time younger people reach that age their savings are going to be worthless in fiat

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