Braun on Modern Monetary Theory: “It’s a bunch of malarkey.” WASHINGTON — Indiana Senator Mike Braun is warning you and his colleagues of what he believes the dangers are of a new economic theory making the rounds. It’s called Modern Monetary Theory (MMT). Put simply, MMT propagates the idea that nations the government controls the currency and prints its own money can never “run out of money,” because it controls that money. Thus it can then print more money in order to meet its spending wishes as long as it doesn’t raise inflation. Many economists argue that this economic system would balloon the national debt, and with it, hyperinflation.