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MMT doesn’t rely on being the reserve currency. In fact I think it sometimes argues against it? I’m not an expert on everything MMT yet though, so I can’t speak to that point.
But fair point yes, the implementation as not great. That still doesn’t mean that it wouldn’t have had some very good effects for the rest of the world even at the cost of US hegemony. (Since when that became a good thing anyways?)
MMT relies upon taking in debt.
People have to have trust in the entity taking on the debt to give it the loan. Doing insane shit that causes the global trade to abandon the USD as the reserve currency means waaaaay less entities are willing to loan that money.
Which means interest needs to be higher.
Which also increases inflation more rapidly.
Which breaks the entire concept behind MMT being a useful tool.
You do not understand MMT.
Edit: The reason I say that is because MMT basically says the opposite of what you just wrote there. A Government that mints their own currency doesn’t need to take any loans to spend money, all they have to do is print more money.
You've made it obvious you're the one who doesn't understand ANY of this.
It’s the first and second point of the white paper but ok.