VostokProgram posted:

Here's a question: could widespread knowledge of MMT undermine the conditions that allow MMT to apply to the US government in the first place? It seems like for the MMT analysis of the US to continue to be true, the US needs to continue to maintain people's faith in the dollar. If we ever get to a point where the government says "I would like to pay for a thing using this dollar I have just popped into existence" and the person they are trying to pay says "hold on, I know about this, I will only accept payment in euros/pounds/camels/whatever", we're hosed and have to go back to balancing inflows and outflows again?