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RE: MODERN MONETARY THEORY - can anyone explain major differences between MMT and current monetary system?
Interesting point. But remember, "more of us may benefit" owing to money that is printed out of thin air. Those benefits might feel good, but they're all based on nothing more than thin air.
In other words, MMT can have certain short-term benefits, but at what cost. MMT and QE and money-printing are by their very nature unsustainable.
Regardless of any benefits, I'm expecting the worst.
Trouble is that fractional reserve lending does the same thing--creates money out of thin air. The difference is that a loan is supposed to be based on some value-add that will allow the borrower to repay the principle and interest. It is worth watching Money as Debt on YouTube for how this works as well as reading the critiques and director's responses
Exactly. I find it strange when those who rely on / support fractional reserve banking turn around and excoriate those who promote MMT.
Thanks for the link to "Money as Debt." I'll give it a look soon.
Dear @majes.tytyty
In long run I would also expect the worst.
Yep. Hang on tight!!