I have a lot of respect for Bill Black; his resume is impressive and the man has integrity. Here is a brief bio, from PBS/Bill Moyers Journal:
William K. Black, author of THE BEST WAY TO ROB A BANK IS TO OWN ONE, teaches economics and law at the University of Missouri — Kansas City (UMKC). He was the Executive Director of the Institute for Fraud Prevention from 2005-2007. He has taught previously at the LBJ School of Public Affairs at the University of Texas at Austin and at Santa Clara University, where he was also the distinguished scholar in residence for insurance law and a visiting scholar at the Markkula Center for Applied Ethics.
Black was litigation director of the Federal Home Loan Bank Board, deputy director of the FSLIC, SVP and general counsel of the Federal Home Loan Bank of San Francisco, and senior deputy chief counsel, Office of Thrift Supervision. He was deputy director of the National Commission on Financial Institution Reform, Recovery and Enforcement.
Black developed the concept of "control fraud" — frauds in which the CEO or head of state uses the entity as a "weapon." Control frauds cause greater financial losses than all other forms of property crime combined. He recently helped the World Bank develop anti-corruption initiatives and served as an expert for OFHEO in its enforcement action against Fannie Mae's former senior management.
Original link Here.
I also want to mention that the discussion on MMT is far from over. I am still working on the next topics to be covered. Reader Rajiv has posted some excellent links on the comments section of the post: The Power to Tax and Modern Monetary Theory. I will be incorporating some of his points in a follow up post.
From my experience, most of the blogs I follow that see gold in the final endgame rarely discuss the actual mechanics of our monetary system - what MMT describes. And those blogs that do an excellent job of describing MMT more often see gold as a temporary mania, and that the crisis will eventually be resolved on its own and fiat will prevail. I hope to offer a different perspective that incorporates both MMT and gold as an endgame. Judging from some of the comments here, I am not alone in wanting to explore this topic. And I appreciate all comments on MMT, as it is one of those oftentimes confusing topics that are best understood thru an exchange of views with others.