Modern Monetary Theory (MMT) Is a Scheme to Keep the Bankers in Charge.

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In this report, I cover the early market action from London on Monday, October 15th, 2018. I look briefly at the precious metals, the cryptocurrencies, the stock market, the dollar, the bond market, and the oil price.

Today I also look a little closer at the price spike in the cryptos we are seeing this morning (London Time) and overnight for those in the U.S. It looks like bitcoin is trying to break out of strong resistance around $6800.

The focus of my report is on MMT or Modern Monetary Theory. I watched a Jimmy Dore interview of a proponent of MMT called Stephanie Kelton and also recommend people watch it just to see the absurdity of the theory which basically says the bankers should keep indebting the U.S. but that the money will flow more to the general public.

My conclusion is that MMT's premise is that the governments and bankers should have the power to create debt money and personally I think that is a totally perverted concept as it people and the general public that generate wealth.

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Jimmy Dore Interview with Stephanie Kelton:

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