Modern Monetary Theory (MMT) offers a description of monetary operations which has drawn increased national attention over the past two decades. The proponents of MMT are often maligned and badly misrepresented by the press, orthodox economists, financial analysts, and others.
Say whaaat? Federal Reserve Currency Swaps? The swaps are important: the swaps are socialism for the financial sector. The swaps work something like this. During times of financial stress, banks which lend to each other overnight and for other short