when congress is constrained in the future it need not be -- or you are actually saying they can monetize like they do today......when inflation has been positive. Part of the problem here is the way you describe MMT to so many audiences where other MMTers are saying you dumb it down for those people -- as for example you say when taxes are paid and you leave the room they place the money in the shredder as per a radio show. Whereas a few days ago you were saying the money is not shredded by the treasury but you think it goes to the federal reserve banks. My point overall is that i am trying to work out what MMT actually is from an accounting perspective. For example when you say: ""all our children will have to do is shift funds from one account to another at the fed, just like we do and our fathers did."" Do you have some accounts for that please? @WARREN MOSLER , My education in MMT has come mainly from a few sites where MMTers are posting like prag cap and billy blogg. I began your book but it does not seem to be written for somebody who wants to analyse the system or use MMT to further understand our financial system? The topic of our financial system interests me. But i just cannot work out what MMT is. For example it is not supposed to be a theory. Conversations in MMT seem