There's this pragmatic concept, call Fiat Currency Operations. Periodically, all theory - even that dictated from whatever-orthodox-economists-are-high-on - must re-orient to naturally evolving operations ... which actually work.
ps: Mosler & his growing ranks of "MMT" colleagues freely quote all relevant economists from all countries, something which cannot be said for the Bank of England, even after 81 years. Marriner Eccles, thankfully, never read any economic theory at all. He just reinvented the actual operations to fit ongoing requirements. :) We could use a few more people like that?