Modern Monetary Theory or MMT is the soup of the day in the global monetary shadow world. In this episode Nathan Lewis and I discuss The Deficit Myth by Stephanie Kelton, the current bible of the MMT and functional finance crowd. If you have interest in unicorns, mythical creatures and magical money printing machines that never cause inflation then this is the episode for you. We go deep into some of the core theories in MMT and hold them up against the cold, hard light of reality.

This morning I only had 25 minutes before a bike race yet I managed to pull together a veritable cornucopia of macro and classical economical goodies. I start by exploring what Adam Smith thinks about competition and then we go deep into the latest brilliant analysis of Nathan Smith and his Polaris Letter. Finally, I begin to share some of the key insights from George Gilder's latest interview on blockchain and the global scandal of money.

Today I want to share with you a quick summary of the latest phenomenal research from Doug Noland as well as some great quotes from the one and only Thomas Sowell. I also share a quote from George Gilder that reminds us that entrepreneurship is a crucial way in which we participate with the structure of the cosmos itself.