U.S. Facing Insolvency by Ignorant Choice

by Derryl Hermanutz In his book, “The 7 Deadly Innocent Frauds of Economic Policy”, modern money theory (MMT) advocate Warren Mosler distinguishes between three very different kinds of money systems, “Historically, there have been three categories of money: commodity, credit, and fiat. Commodity money consists of some durable material of intrinsic value, typically gold or silver …