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Every August, a group of economists, money managers and other market followers gathers to fish and debate at Leen's Lodge in rural Maine, invited by Cumberland Advisors Inc. Chairman and Chief Investment Officer David Kotok. Discussion focused on China's geopolitical ambitions and the potential for modern monetary theory to become the new quantitative easing and a regular part of U.S. fiscal and monetary policy. David Kotok, Jim Bianco and others discuss interest rates on the deck at Leen's Lodge.Source: S&P Global Market Intelligence Beware the magic money tree Bianco opened the Saturday evening discussion of modern monetary theory, or \"the magic money tree,\" by explaining MMT as the idea that a monetarily independent country can \"keep borrowing and borrowing and borrowing\" in its own currency until it creates inflation.