The Final Flaw in Modern Monetary Theory

Inflation is still important, it's one of the big reasons why we reserve our crazy spending for times like say, I don't know, right now. But if you are a nation that doesn't use its own currency, sorry, all this fun stuff doesn't really apply to you. The other people that get passed up on are countries with kind of sketchy currencies. If the Democratic Republic of the Congo wanted to raise money from the international community to build a new port, it would need to take on debt. But almost no rational financial institution is going to take payments or accept repayments in Congolese Franks. And that means that normally these debts are denoted in some kind