MMT is a way of describing how dollar hegemony has functioned so far, and to a lesser extent two or three other currencies It is not relevant to non-reserve currencies Meaning: it is a description of imperial monetary systems Irrelevant to the vast vast majority of fiats, which 7 billion people use MMT only seems possible because hegemonic currencies are able to abuse others A sovereign obviously can’t just borrow with no penalty, but it can do this *a lot longer than everyone else* if it is a currency hegemon, as it is doing it at the expense of everyone else Bitcoin fixes this

MMT can only exist in a world with dozens and dozens of currencies It required a currency caste system It is a description of late-stage dollar hegemony Its proponents sound exactly like imperial historians at the height of empire The arrogance is astounding