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@GreekFire23 @hendry_hugh @profplum99 @scientificecon 1) It's not a gold standard; it's a neutral reserve asset replacing USTs as primary reserve asset of the USD-centric system.

2) I'm not arguing for anything, I'm describing what's happening; MMT discussions are only accelerating gold replacing USTs as primary rsv asset:
@GreekFire23 @hendry_hugh @profplum99 @scientificecon 3) You cannot run MMT with USTs as primary reserve asset. The system will collapse.

Step 1 to MMT is the world moving to a neutral rsv asset to settle imbalances (which are primarily driven by commodity import/export imbalances.)

We are nearly a decade into this happening.
@GreekFire23 @hendry_hugh @profplum99 @scientificecon 4) The reason this is happening is b/c since 2008, UST's o/s have risen 8.8% CAGR, while UST ylds have averaged 2% across the curve.

Storing commodity surpluses in USTs under those terms is a guaranteed way to go broke in nations where the populaces don't deal well w/that.
@GreekFire23 @hendry_hugh @profplum99 @scientificecon 5) However, I am always open to borrowing 8.8% more money every year at a 2% yield. I'll take down $1B to start this year, doubling in amount every year - just LMK how much you're good to loan me :)
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