Recently Freshman Congresswoman Alexandria Ocasio-Cortez (AOC) thrust Modern Monetary Theory (MMT) into the popular limelight by suggesting that MMT was how the U.S. could pay for her "Green New Deal".  What is MMT and how is it different from good old "Money Printing"? History is rife with examples of countries that tried to print money without any “governor” on the quantity of money printed.  Recent examples include Argentina, North Korea, Zimbabwe, and Venezuela.   See: 27 examples of hyperinflation from ancient Egypt through modern-days.  In today's article Charles Hugh Smith of Daily Reckoning looks at why Modern Monetary Theory Won't Work.  We've reprinted the following article by … [Read more...]