MMT is a description of how money actually works. Ultimately we all create money all the time because it is just a promise by of something in the future. . Th

MMT is a description of how money actually works. Ultimately we all create money all the time because it is just a promise by of something in the future. . The difference is that government can force you to obtain a particular promise via the taxing powers we give it at election time. No trust required. Banks then leverage that. For a dollar to be called a dollar there has to be a transitive clearance link to the entity that owns it. Otherwise it is just a liability of the bank in question - like a share or bond