MMT boils down to government using its monopoly over money to dictate and control production, obliterate free markets, suppress private enterprise, and impoverish the people.
The Fed is prepared to squeeze out what little is left of the free market forces in the debt market. The Fed wants full control so it can do "whatever it takes" to keep interest rates from rising above its very-low targets.
Since we don't know the future, all investment is a type of speculation, and this doesn't mean banks are behaving nefariously when investing other people's money.
While government spending re-allocates and distorts resources, it is not necessarily inflationary. Inflation really just stems from money creation and fractional-reserve lending carryied out by central banks and private banks — thus creating money "out of thin air."
Like taxation, government spending diverts resources from real wealth-generating ventures. Borrowed funds for continued spending must also be repaid, so current spending translates to future taxation.
