It could be that with the election of Alexandra Ocasio-Cortez to congress, MMT's star will rise with hers as she is reportedly an adherent and possibly views MMT as a means to fund her Green New Deal.
As we see below, MMT has been around for some time, having come out of the Chartalism school in the first half of the 1900's and was made into MMT in the early 90's by Warren Mosler, apparently after a "Long steam" with Donny Rumsfeld, who then referred him to Art Laffer.
To the casual onlooker, MMT may sound a lot like standard-issue Keynesianism, the idea that the Government can and should run deficits to smooth out the business cycle.
At its core, Modern Monetary Theory is an argument that would be wonderfully familiar to every sovereign since the invention of debt.
MMT says debt can expand perpetually and inflation will not occur provided it doesn't expand faster than the value in the private economy and any excess liquidity is drained off via taxation.
Under MMT there is no more pretence that the currency has any intrinsic value - it's an economic scorecard and nothing more.
Suppose Warren Mosler were issuing new business cards all the time, so that the stock of business cards were growing faster than the number of people in the room. Suppose furthermore Warren promised (like the Bank of Canada) that he would always issue enough business cards so you could always buy one 2% cheaper if you just waited a year. Would they still be valuable? If Bitcoin collapses, the risk of a mass exit from pegged coins is greater, so it’s in the interest of the pegged coin owner to do “whatever it takes” to support not only the peg but also the bitcoin price. They can do that by printing more of their coin and using it to buy Bitcoin. It also works if they do it on a crypto-to-crypto exchange — good idea to have one as part of the ... Yeah, Warren Mosler is not the person to ask when you want to find out why something has or does not have value. level 2. bilotrace. 2 points · 7 years ago · edited 7 years ago. These dinosaurs know a lot about the old financial systems. But don't worry, their days are numbered. They will be recorded in the history books and they will be remembered :) level 2 [deleted] 2 points · 7 years ... Their value is essentially entertainment-value with a dash of prestige-value, as in “I’m the only one in my office football pool who has a BitCoin Wallet.” Not all fads end quickly or fail to profit someone (think Beanie Babies). But all such fads eventually end badly for the ultimate “greater fools”. The fact that some sellers (traders, really) will accept Bitcoins is no more ... Bitcoin. comments; other discussions (1) Want to join? Log in or sign up in seconds. English; limit my search to r/Bitcoin. use the following search parameters to narrow your results: subreddit:subreddit find submissions in "subreddit" author:username find submissions by "username" site:example.com find submissions from "example.com" url:text search for "text" in url selftext:text search for ...
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Learn how to invest with real Macro Economic Understanding. Subscribe to me on Patreon and get more in-depth learning, up to date market coverage, Charting analysis, investing know how and ... On January 24-25, 2019 the Center of Mathematical Sciences hosted a conference on distributed-ledger (blockchain) technology. The conference was intended to cover a broad range of topics, from ... Learn how to invest with real Macro Economic Understanding. Subscribe to me on Patreon and get more in-depth learning, up to date market coverage, Charting analysis, investing know how and ... The 4 Most Important Words In Crypto (And Why Bitcoin Has Value) - Duration: 14:45. ... The Good Dream is Factual MMT Warren Mosler - Duration: 56:04. Michabo Sustainable Harmony 7,064 views. 56 ... Learn how to invest with real Macro Economic Understanding. Subscribe to me on Patreon and get more in-depth learning, up to date market coverage, Charting analysis, investing know how and ...