MMT is one of those persuasions that can only exist in America, same as Libertarianism on the other political end. In any non-American 'monetary sovereign' cou

MMT is one of those persuasions that can only exist in America, same as Libertarianism on the other political end. In any non-American 'monetary sovereign' country, printing too much money will crash the exchange rates (this is not merely a consequence of inflation - some of the processes involved are independent). It's a slightly different casual mechanism than the neoclassical one, but still the result is a de facto government default. The USA however holds the world's reserve currency, and the normal restraints indeed don't apply anywhere as much. This however does not mean there are no restraints. Fortunately the country has never gone full MMT, so we'll never find out empirically.