• ☆ Yσɠƚԋσʂ ☆@lemmy.mlOP
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    7 months ago

    It’s mostly that he clearly doesn’t understand how this works even though he’s in charge of the policy. Conceptually, mmt works because the government can just keep issuing as much currency as it wants. So, as long as the spending is done in its own currency there isn’t a problem. However, the whole thing is built on trust in the system and if people stop losing faith in the value of the currency then the whole house of cards comes crashing down.