Endogenous Money | Randall Wray Explains Warren Mosler's Unique Insight

Just Prof. Wray's opinion on the one new thing about MMT, which might piss off Bill Mitchell. But... whatever. Mosler recognized when the Central Bank sells Treasury bonds it is an interest rate maintenance operation, and that when Treasury sells bonds it is the exact same effect, it is not a borrowing operation. Both are using IRMA (interest rate maintenance accounts): a reserve drain from the banking system in return for interest paying accounts at the CB.
You can watch the entire lecture series here:
• Modern Monetary Theory