# Modern Monetary Theory on The No Agenda Show Modern Monetary Theory comes up in 16 chapters across 16 episodes of The No Agenda Show, from April 2019 to July 2023. - **Chapters:** 16 - **Episodes:** 16 - **Discussed:** April 2019 – July 2023 - **Related topics:** [Mmt](https://search.noagendashow.net/topic/mmt.md), [Inflation](https://search.noagendashow.net/topic/inflation.md), [Federal Reserve](https://search.noagendashow.net/topic/federal-reserve.md), [Bernie Sanders](https://search.noagendashow.net/topic/bernie-sanders.md), [Income Inequality](https://search.noagendashow.net/topic/income-inequality.md), [Japan](https://search.noagendashow.net/topic/japan.md), [Taxation](https://search.noagendashow.net/topic/taxation.md), [Alexandria Ocasio-cortez](https://search.noagendashow.net/topic/alexandria-ocasio-cortez.md), [Birth Rates](https://search.noagendashow.net/topic/birth-rates.md), [Bitcoin](https://search.noagendashow.net/topic/bitcoin.md) ## Chapters 1–16 of 16 ### Population Growth Competition and Modern Monetary Theory - **Episode:** [1577: Gerontocracy](https://search.noagendashow.net/episode/1577-gerontocracy.md) - **Published:** 2023-07-30 - **Time:** 2:24:00–2:27:00 - **Transcript:** https://search.noagendashow.net/episode/1577-gerontocracy/chapter/population-growth-competition-and-modern-monetary-theory.md The hosts discuss a theory that global powers encourage mass immigration to maintain population growth as a counter to declining birth rates. They argue that under Modern Monetary Theory, a growing population allows for continued currency printing and economic stability. This perspective suggests that the "open border" policy is a strategic choice to ensure the U.S. remains competitive against countries like China that are facing demographic collapse. Keywords: [replacement theory](https://search.noagendashow.net/topic/replacement-theory.md), [modern monetary theory](https://search.noagendashow.net/topic/modern-monetary-theory.md), [china](https://search.noagendashow.net/topic/china.md), [population decline](https://search.noagendashow.net/topic/population-decline.md), [immigration](https://search.noagendashow.net/topic/immigration.md), [labor](https://search.noagendashow.net/topic/labor.md) ### Modern Monetary Theory and Unspent COVID Funds - **Episode:** [1514: Holiday Heart](https://search.noagendashow.net/episode/1514-holiday-heart.md) - **Published:** 2022-12-22 - **Time:** 36:56–39:18 - **Transcript:** https://search.noagendashow.net/episode/1514-holiday-heart/chapter/modern-monetary-theory-and-unspent-covid-funds.md The U.S. government's continued high-level spending is characterized as an application of Modern Monetary Theory. Despite passing massive bills like the Inflation Reduction Act and the CARES Act, significant portions of previously allocated funds remain unspent, leading to questions about the necessity of new debt. Keywords: [modern monetary theory](https://search.noagendashow.net/topic/modern-monetary-theory.md), [inflation reduction act](https://search.noagendashow.net/topic/inflation-reduction-act.md), [cares act](https://search.noagendashow.net/topic/cares-act.md), government debt, printing money ### Rick Santelli on Financial Destruction and Modern Monetary Theory - **Episode:** [1489: Sophistry's Choice](https://search.noagendashow.net/episode/1489-sophistry-s-choice.md) - **Published:** 2022-09-25 - **Time:** 1:22:20–1:25:58 - **Transcript:** https://search.noagendashow.net/episode/1489-sophistry-s-choice/chapter/rick-santelli-on-financial-destruction-and-modern-monetary-theory.md CNBC's Rick Santelli delivers a fiery critique of Modern Monetary Theory (MMT), arguing that central banks have ruined the global financial infrastructure by printing money indefinitely. He suggests that "lots of financial destruction" is necessary to reset the economy to true risk-to-value returns. The hosts enjoy Santelli's use of clichés and his distinct pronunciation of "finance." Keywords: [rick santelli](https://search.noagendashow.net/topic/rick-santelli.md), [cnbc](https://search.noagendashow.net/topic/cnbc.md), [modern monetary theory](https://search.noagendashow.net/topic/modern-monetary-theory.md), [inflation](https://search.noagendashow.net/topic/inflation.md), [interest rates](https://search.noagendashow.net/topic/interest-rates.md) ### Great Reset, Currency Control, Ukraine Reconstruction - **Episode:** [1455: Systemic Rivals](https://search.noagendashow.net/episode/1455-systemic-rivals.md) - **Published:** 2022-05-29 - **Time:** 1:07:21–1:11:52 - **Transcript:** https://search.noagendashow.net/episode/1455-systemic-rivals/chapter/great-reset-currency-control-ukraine-reconstruction.md The "Great Reset" is discussed as a potential currency overhaul involving central bank digital currencies and centralized taxation. George Soros described Ukraine's resistance as an "enormous service" to the Western world, while others suggest the eventual reconstruction of Ukraine will provide a massive opportunity for global contractors. Keywords: [great reset](https://search.noagendashow.net/topic/great-reset.md), [modern monetary theory](https://search.noagendashow.net/topic/modern-monetary-theory.md), [ukraine](https://search.noagendashow.net/topic/ukraine.md), [taxation](https://search.noagendashow.net/topic/taxation.md), [currency](https://search.noagendashow.net/topic/currency.md), [central bank](https://search.noagendashow.net/topic/central-bank.md) ### Janet Yellen Links Abortion Access to Economic Participation - **Episode:** [1450: New Collar Worker](https://search.noagendashow.net/episode/1450-new-collar-worker.md) - **Published:** 2022-05-13 - **Time:** 23:51–28:18 - **Transcript:** https://search.noagendashow.net/episode/1450-new-collar-worker/chapter/janet-yellen-links-abortion-access-to-economic-participation.md Treasury Secretary Janet Yellen testified that eliminating abortion rights would have "damaging effects" on the U.S. economy by reducing women's labor force participation and earning potential. Critics argue this perspective aligns with Modern Monetary Theory (MMT), which requires a constant supply of "human resources." Comparisons are drawn to Japan's economic stagnation and declining birth rates as a potential consequence of restricted reproductive rights. Keywords: [janet yellen](https://search.noagendashow.net/topic/janet-yellen.md), [treasury department](https://search.noagendashow.net/topic/treasury-department.md), [modern monetary theory](https://search.noagendashow.net/topic/modern-monetary-theory.md), [labor force](https://search.noagendashow.net/topic/labor-force.md), [birth rates](https://search.noagendashow.net/topic/birth-rates.md), [japan](https://search.noagendashow.net/topic/japan.md) ### Modern Monetary Theory and Taxation as Control - **Episode:** [1424: Guidepost](https://search.noagendashow.net/episode/1424-guidepost.md) - **Published:** 2022-02-10 - **Time:** 2:24:12–2:25:40 - **Transcript:** https://search.noagendashow.net/episode/1424-guidepost/chapter/modern-monetary-theory-and-taxation-as-control.md The hosts discuss Modern Monetary Theory (MMT) and the implications of the government's ability to create trillions of dollars at will. They question why high taxes are still levied if the state can print money to cover its expenses. The conclusion reached is that taxation serves primarily as a tool for social and economic control rather than a necessary funding mechanism. Keywords: [modern monetary theory](https://search.noagendashow.net/topic/modern-monetary-theory.md), [mmt](https://search.noagendashow.net/topic/mmt.md), [taxation](https://search.noagendashow.net/topic/taxation.md), [fiscal policy](https://search.noagendashow.net/topic/fiscal-policy.md), government control ### Executive Producer Seronymous, Hajj 2020, Goat Sacrifice - **Episode:** [1267: Trust Stamp](https://search.noagendashow.net/episode/1267-trust-stamp.md) - **Published:** 2020-08-09 - **Time:** 1:23:53–1:30:27 - **Transcript:** https://search.noagendashow.net/episode/1267-trust-stamp/chapter/executive-producer-seronymous-hajj-2020-goat-sacrifice.md Executive Producer Seronymous provides a "boots on the ground" report from the Middle East regarding Hajj 2020. He describes the pilgrimage as surreal due to the lack of outsiders and the transition to virtual animal selection for sacrifices. He shares an anecdote about a guard only using white goats to avoid offending Americans during BLM protests. His note also critiques Modern Monetary Theory (MMT) and the failure of STEM programs. Keywords: [seronymous](https://search.noagendashow.net/topic/seronymous.md), [hajj](https://search.noagendashow.net/topic/hajj.md), [mecca](https://search.noagendashow.net/topic/mecca.md), goat sacrifice, [blm](https://search.noagendashow.net/topic/blm.md), [modern monetary theory](https://search.noagendashow.net/topic/modern-monetary-theory.md) ### Gyrocopters, Modern Monetary Theory and Immunized Money - **Episode:** [1232: GuangoCast](https://search.noagendashow.net/episode/1232-guangocast.md) - **Published:** 2020-04-12 - **Time:** 1:43:11–1:49:14 - **Transcript:** https://search.noagendashow.net/episode/1232-guangocast/chapter/gyrocopters-modern-monetary-theory-and-immunized-money.md Donald Barthelot from Texas discusses gyrocopters with Adam Curry, leading to a conversation about the safety of auto-gyros. The hosts then pivot to the economics of the $6 trillion stimulus, explaining the concept of "immunized money." They argue that hyperinflation is unlikely because the money is being managed through Modern Monetary Theory (MMT) similar to Japan's economic model. Keywords: gyrocopters, donald barthelot, [modern monetary theory](https://search.noagendashow.net/topic/modern-monetary-theory.md), [hyperinflation](https://search.noagendashow.net/topic/hyperinflation.md), [japan](https://search.noagendashow.net/topic/japan.md), [stimulus](https://search.noagendashow.net/topic/stimulus.md) ### Modern Monetary Theory, Immunized Cash and Reverse Repos - **Episode:** [1230: Avocado Cartel](https://search.noagendashow.net/episode/1230-avocado-cartel.md) - **Published:** 2020-04-05 - **Time:** 58:20–1:05:30 - **Transcript:** https://search.noagendashow.net/episode/1230-avocado-cartel/chapter/modern-monetary-theory-immunized-cash-and-reverse-repos.md The U.S. government is utilizing "immunized money" through reverse repos and the Federal Reserve to fund the $6.2 trillion stimulus without triggering immediate inflation. Treasury Secretary Steven Mnuchin and BlackRock are reportedly using Modern Monetary Theory (MMT) to cook the books and support the economy during the lockdown. Experts suggest this circular financial system is designed to prevent a Japanese-style debt trap, provided the U.S. maintains its birth rate. Keywords: [steven mnuchin](https://search.noagendashow.net/topic/steven-mnuchin.md), [federal reserve](https://search.noagendashow.net/topic/federal-reserve.md), [reverse repo](https://search.noagendashow.net/topic/reverse-repo.md), [inflation](https://search.noagendashow.net/topic/inflation.md), [modern monetary theory](https://search.noagendashow.net/topic/modern-monetary-theory.md), [blackrock](https://search.noagendashow.net/topic/blackrock.md) ### Federal Reserve Liquidity and Modern Monetary Theory - **Episode:** [1226: Bat's True!](https://search.noagendashow.net/episode/1226-bat-s-true.md) - **Published:** 2020-03-22 - **Time:** 1:02:28–1:05:24 - **Transcript:** https://search.noagendashow.net/episode/1226-bat-s-true/chapter/federal-reserve-liquidity-and-modern-monetary-theory.md The Federal Reserve has made trillions of dollars available for overnight bank lending to ensure system liquidity. Treasury Secretary Steven Mnuchin is working on a stimulus package that could include half a trillion dollars in direct payments to citizens. The hosts discuss whether this move toward "Modern Monetary Theory" (MMT) will lead to long-term inflation or if the market collapse has already priced in these changes. Keywords: [federal reserve](https://search.noagendashow.net/topic/federal-reserve.md), mnuchin, [modern monetary theory](https://search.noagendashow.net/topic/modern-monetary-theory.md), [inflation](https://search.noagendashow.net/topic/inflation.md), [dow jones](https://search.noagendashow.net/topic/dow-jones.md), [liquidity](https://search.noagendashow.net/topic/liquidity.md) ### Modern Monetary Theory and Bitcoin Comparison - **Episode:** [1200: Hell Mouth](https://search.noagendashow.net/episode/1200-hell-mouth.md) - **Published:** 2019-12-20 - **Time:** 2:06:08–2:08:41 - **Transcript:** https://search.noagendashow.net/episode/1200-hell-mouth/chapter/modern-monetary-theory-and-bitcoin-comparison.md A listener's note from Germany prompts a discussion on Modern Monetary Theory (MMT). The hosts debate whether MMT is compatible with decentralized cryptocurrencies like Bitcoin or corporate projects like Facebook's Libra. Keywords: [modern monetary theory](https://search.noagendashow.net/topic/modern-monetary-theory.md), [mmt](https://search.noagendashow.net/topic/mmt.md), [bitcoin](https://search.noagendashow.net/topic/bitcoin.md), [libra](https://search.noagendashow.net/topic/libra.md), [crypto](https://search.noagendashow.net/topic/crypto.md) ### Modern Monetary Theory, Goldman Sachs Stability - **Episode:** [1158: Taking a Mueller](https://search.noagendashow.net/episode/1158-taking-a-mueller.md) - **Published:** 2019-07-28 - **Time:** 50:32–53:14 - **Transcript:** https://search.noagendashow.net/episode/1158-taking-a-mueller/chapter/modern-monetary-theory-goldman-sachs-stability.md A discussion on Modern Monetary Theory (MMT) suggests that the U.S. economy can sustain massive debt and money printing without immediate collapse, citing the Trump tax cuts as evidence. However, warnings are issued regarding the stability of major financial institutions. Following the decline of Deutsche Bank, rumors suggest Goldman Sachs may be facing significant internal trouble, reminiscent of the 2007 financial crisis. Keywords: [modern monetary theory](https://search.noagendashow.net/topic/modern-monetary-theory.md), [goldman sachs](https://search.noagendashow.net/topic/goldman-sachs.md), [deutsche bank](https://search.noagendashow.net/topic/deutsche-bank.md), [economy](https://search.noagendashow.net/topic/economy.md), [tax cuts](https://search.noagendashow.net/topic/tax-cuts.md) ### Bernie Sanders and Income Inequality Rhetoric - **Episode:** [1151: Brand Purpose](https://search.noagendashow.net/episode/1151-brand-purpose.md) - **Published:** 2019-07-04 - **Time:** 12:38–15:05 - **Transcript:** https://search.noagendashow.net/episode/1151-brand-purpose/chapter/bernie-sanders-and-income-inequality-rhetoric.md Bernie Sanders focused his debate performance on income inequality and taxing the wealthy. The hosts discuss his campaign's connection to Modern Monetary Theory (MMT) and note the heavy presence of insurance company advertising during the broadcast. Keywords: [bernie sanders](https://search.noagendashow.net/topic/bernie-sanders.md), [income inequality](https://search.noagendashow.net/topic/income-inequality.md), [modern monetary theory](https://search.noagendashow.net/topic/modern-monetary-theory.md), [wall street](https://search.noagendashow.net/topic/wall-street.md), [insurance companies](https://search.noagendashow.net/topic/insurance-companies.md) ### Modern Monetary Theory, Income Inequality and Reaganomics - **Episode:** [1150: Gender Justice](https://search.noagendashow.net/episode/1150-gender-justice.md) - **Published:** 2019-06-30 - **Time:** 42:29–46:27 - **Transcript:** https://search.noagendashow.net/episode/1150-gender-justice/chapter/modern-monetary-theory-income-inequality-and-reaganomics.md Modern Monetary Theory (MMT) is discussed as a framework that allows for massive government spending without traditional debt constraints. Critics argue that the focus on income inequality by MMT proponents is a "dog whistle" for socialist policies intended to reset the economy to a depressed state. Keywords: [mmt](https://search.noagendashow.net/topic/mmt.md), [modern monetary theory](https://search.noagendashow.net/topic/modern-monetary-theory.md), [income inequality](https://search.noagendashow.net/topic/income-inequality.md), [ronald reagan](https://search.noagendashow.net/topic/ronald-reagan.md), [koch brothers](https://search.noagendashow.net/topic/koch-brothers.md) ### Stephanie Kelton on Modern Monetary Theory - **Episode:** [1130: Troll Union](https://search.noagendashow.net/episode/1130-troll-union.md) - **Published:** 2019-04-21 - **Time:** 1:08:35–1:14:16 - **Transcript:** https://search.noagendashow.net/episode/1130-troll-union/chapter/stephanie-kelton-on-modern-monetary-theory.md The hosts critique an explanation of Modern Monetary Theory (MMT) by Professor Stephanie Kelton, an advisor to Bernie Sanders. Kelton argues that the federal government cannot run out of money because it is the issuer of the currency. The hosts mock the idea that printing money has no downside and compare the logic to failed economic states. Keywords: stephanie kelton, [bernie sanders](https://search.noagendashow.net/topic/bernie-sanders.md), [modern monetary theory](https://search.noagendashow.net/topic/modern-monetary-theory.md), [mmt](https://search.noagendashow.net/topic/mmt.md), [keynesian economics](https://search.noagendashow.net/topic/keynesian-economics.md) ### Modern Monetary Theory, AOC Economic Policy - **Episode:** [1128: Tactile Nukes](https://search.noagendashow.net/episode/1128-tactile-nukes.md) - **Published:** 2019-04-14 - **Time:** 1:38:47–1:43:02 - **Transcript:** https://search.noagendashow.net/episode/1128-tactile-nukes/chapter/modern-monetary-theory-aoc-economic-policy.md The New York Times reports that Alexandria Ocasio-Cortez and other "Justice Democrats" are proponents of Modern Monetary Theory (MMT). This economic theory suggests the U.S. can borrow and print unlimited money to fund social programs without fear of debt, a concept the hosts find highly skeptical. Keywords: [modern monetary theory](https://search.noagendashow.net/topic/modern-monetary-theory.md), [mmt](https://search.noagendashow.net/topic/mmt.md), [alexandria ocasio-cortez](https://search.noagendashow.net/topic/alexandria-ocasio-cortez.md), [federal reserve](https://search.noagendashow.net/topic/federal-reserve.md), [inflation](https://search.noagendashow.net/topic/inflation.md), [debt](https://search.noagendashow.net/topic/debt.md) --- This is the markdown version of a page on The No Agenda Show for AI agents. Every public page on this site has one: add `.md` to its URL, or request it with `Accept: text/markdown`. - [Site index for agents (llms.txt)](https://search.noagendashow.net/llms.txt) - [Home](https://search.noagendashow.net/index.md) - [Search transcripts](https://search.noagendashow.net/search.md) - [All episodes](https://search.noagendashow.net/episodes.md) - [Topics](https://search.noagendashow.net/topics.md) - [People](https://search.noagendashow.net/people.md)