[Scandiravian]

I have never understood, why everyone brings up inflation as an argument against this, as if that isn't something that already exists

Inflation is only an issue if you spend money beyond what is required to achieve full employment in the workforce, since new money in the system is balanced with new wealth being generated through work

Inflation can then be controlled through taxation. Raising taxes pulls money out of circulation, thereby reducing inflation

Private banks already have the ability to create money out of thin air, but for some weird reason, that's apparently not really an issue for most people

I can't think of any small European countries that I can imagine defaulting without the euro. Could you specify which ones you think would have defaulted?

[oblio]

Greece, for sure.

They would have defaulted and the drachma would have probably been at a point where a loaf of bread would cost millions of drachmas.

[Scandiravian]

On the contrary, the eurozone is a massive reason for the Greek economy collapsing as catastrophically as it did in the wake of the 2008 financial crisis

It also doesn't matter how "many" of a currency is needed for a loaf of bread, as long as the supply is available. The Italian lira was extremely inexpensive, but as long as the government made sure the supply matched the demand there was no issue

Edit: I'd also say that Greece is not really a "smaller European country", being the 14th most populous European country

[oblio]

What about savings? What about salaries? Hyperinflation absolutely wrecks the lives of regular people.

[Scandiravian]

What about them?

You're just listing questions without contributing with any alternatives or reflection on what has been said by others

Hyperinflation is an extreme case and others have already posted several answers to this, which you have chosen to ignore

[oblio]

Is there any country that defaulted and didn't suffer from hyperinflation? I can't think of any.

I've chosen to ignore the rest because everyone treats hyperinflation like a rare occurrence, under the circumstances.

[Scandiravian]

You're just listing more questions now

I don't see how the number of defaulted countries that experienced hyperinflation is relevant to whether MTT is an accurate model for describing economical systems

I also can't find any responses to your post that states hyperinflation is a rare occurrence. On the contrary, there's answers to most of the questions you've asked me

I'm not interested in convincing you of one thing or another. I want to broaden my horizon through discussion, so if the only thing you bring to the table is questions that could be easily googled, I'm not interested in continuing this conversation