Search - User Network
Search - Video
Search - Categories
Search - Contacts
Search - News
Search - News Feeds
Search - Tags
RECENT

Bill Dudley Slams MMT: "It Failed In Germany, Venezuela And Zimbabwe"

makeAhistory.comWhile there has been much disagreement among the financial elite about the ultimate consequences of central bank activism and market manipulation, with some - usually those who do not manage money for a living and are not paid by investors - predicting fire and brimstone, while a separate, far more optimistic group expects the world's greatest experiment in monetary policy to somehow have a happy ending, when it comes to socialism disguised as monetary policy, besides a certain, politically-influenced fringe, the condemnation against "helicopter money" wrapped in a convenient political wrapper has mostly been uniform.

We are talking, of course, about MMT, which stands for Modern Money Theory, but would make far more sense if it stood stand for Magic Money Tree, as the theory effectively espouses unlimited money printing and skipping central banks as intermediaries in money creation which, however, the theory claims does not result in hyperinflation because, somehow, taxation manages to limit the amount of money in circulation and the result is monetary utopia.

It is therefore hardly a surprise that MMT has emerged as the pet financial theory for such socialist politicians as Bernie Sanders and Alexandra Ocasio-Jones (the biggest

Read more