Michel, this a very good condensed presentation of MMT and essentially makes my covering the same ground redundant. I could expand on various sub-topics or respond to FAQs however. There seen to be certain small errors, such in practice typically taxes are used as the basis of the extinguishing of public debts. Such debt can also be converted into reserve bonds. It would probably be useful to define "financial hardship for the private sector" for instance. The text might be broken into smaller chunks, and it is in a pdf format. I could perhaps ask someone at UMKC to review the sections and allow me to edit the whole body of practice into "chewable" sections. Tadit http://pragcap.com/resources/understanding-modern-monetary-system