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Those reading the "Marxism vs. MMT" state theory threads should study the Uni proposal to really understand the MMT intervention here. 1/
Briefly, the Uni is a proposal for universities to self finance as necessary during the COVID crisis by issuing credits called Unis, which the universities would accept as payment for tuitions, rents, etc., thus giving the Uni a degree of money-ness within its "local" sphere. 2/
The Uni is a complementary currency, BOTH in the sense that it's used alongside US dollars, and because the Federal Reserve could formally accommodate the Uni by offering 1:1 swaps between Unis and USD, in line with its recent experimentation accepting municipal bonds for USD. 3/
