> Modern Monetary Theory Modern Monetary Theory basically enshrines the fact that scamming the general public of its wealth is a perfectly fine practice, espec

> Modern Monetary Theory Modern Monetary Theory basically enshrines the fact that scamming the general public of its wealth is a perfectly fine practice, especially when they don't notice it's happening, boiling frog style. It also only works if - like in the case of Japan - the debt is held internally to a country, a captive audience if you will, which has no choice but to be ridden roughshod by its rulers. Is the US sovereign debt held internally? I don't know, but my bet would be that a large chunk isn't. Although that may no matter as long as they are the planet's hegemon, which sort of makes any debt holder internal. But that latter status quo may not last very much longer.