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wealthy individuals act like capacitors. they buffer and store money to release it at greater intensity some capacitors are so large however that they act like mini hydraulic systems fractally embedded in larger one. (like banks)

what MMT proposes is that "debt" is inconsequential. it proposes that there is no need to create or incentivize a closed loop because the central bank has infinite production of hydraulic fluid. it can maintain pressure at no cost

the ONLY thing that money printing should be limited by is inflation. if pressure is too high, lower the printing. vice versa. ignore the debt, just pump money to where its needed

it's similar to a pressure leak. if you can pump in pressure at the same rate it is leaking, then the leak isn't a problem. the system works as long as it maintains internal pressure and since money is "free" then..... debt isn't a problem?

the main failure to this model is that it doesn't really look into where these "leaks" are going fiat "leaks" out of a system cycle through things like buying hard assets, savings, destruction, etc..

however even with hard assets the money is still in the system. if you buy gold for cash the seller needed the cash and is presumably injecting that cash somewhere else in the economy

so the main exit points for a local system are: 1/ exit to an external system. e.g. for the u.s. it's dollars going into foreign systems (trade deficit) for individual states it's out-stage egress, etc... 2/ savings. this is psychological. just piles of cash just sitting there.

the local capacitors and buffers also create their own closed loop systems not only are they closed loop, they "extract" from the environment and increase in size that is to say... businesses GROW

this is GOOD. because the concept of an "environment" doesn't actually exist. it's ALL just closed loops nested within each other with a few points of interconnection

take ur job. the ingress is how the company makes money. you use that money buying avocados and toast at local markets. some big exit streams are taxes. maybe you buy a vanguard index fund. not that difficult to model. u r but a caricature from the system's view

that is to say, to YOU, your company IS your local environment that gives you life. you can move between different environments but u r like a parasite switching hosts. you still need a host

monolithic systems that fail to fractally sub-divide tend to collapse and fail soviet union style china for e.g. is fractally sub-divided allowing it to manage the world's largest statehttps://twitter.com/SamoBurja/status/1389193648521322498?s=20 …

so the non-stop pumping of money into the economy through mmt actually feeds these large sub-systems and allow them grow like zombie cancer YES it IS sustaining "life" but also, it's cancer.

when this money floods into these closed systems the systems grow in power to the point where they can challenge the central state and even start bloody feuds with each other they start acting like the bank of braavos, benefitting from conflict.https://twitter.com/a_yawning_cat/status/1324970415098220544 …

in order for the central authority to maintain control, it has to print increasing large amounts of money to keep the increasingly powerful individual actor's from gaining too much power. the printing has to be so much that it debases the upstart's money

this is a classical positive feedback loop and creates hyperinflation that causes the state to lose all control when centralized control is lost for a state, the state no longer acts like a single state even if it nominally remains one

so when new money is being pumped into a system, and all its doing is being accumulated in local buffers and capacitors, then central authority erodes. shared "commons" start falling apart. e.g. infrastructure, public schools parks safety, etc..

everyone has to retreat to whatever local warlord manages to engorge itself on the free energy (who eventually fallback to an outside-system currency like gold) everyone rushes in to buy tickets to the ark that will take them to isolated elysiums

note that this system works if the warlords are perfectly cooperative... this is b/c in a perfect world they will just give money wherever it is needed. the gov doesn't even have to care about how it distributes $ since the warlords will figure it out themselves

except... this isn't how economics works at all economics is primarily about INFORMATION DISCOVERY on how to collaborate the warlords fighting each other tooth and nail IS how this information is discovered. they don't just know it. morality ISN'T the blocker

this is ironic b/c the stereotypical "being nice solves everything" person is often a "nature hippie" of some sort and let me tell you something about nature. it's quite violent. hoomans literally created anti-nature "civilization" bc they couldn't handle the heat. weaklings.