In a bid to wake people to the dangers of Modern Monetary Theory (MMT), a message that read “printing money is stealing from the poor,” accompanied by a Bitcoin symbol, was projected on the Bank of England (BoE) building.
The incident has highlighted the disconnect between economic policy and cryptocurrency in general. With alarm bells sounding over the global economy’s health, can we expect a mass awakening to the financial fraud being perpetrated against the people?
Source: Reddit.com Central Banks and Bitcoin Don’t Get on
The core idea behind MMT states that governments can and should print as much money as needed. This is because they have a monopoly over the fiat money supply and cannot go broke or insolvent.
“Put simply, such governments do not rely on taxes or borrowing for spending since they can print as much as they need and are the monopoly issuers of the currency.”
Critics of MMT argue that this philosophy goes