The problem is not the monetary system alone or as a whole, it is the paradigm of the monetary system. Specifically the rigidly exclusionary and monopolistic nature of the present paradigm of Debt Only.

MMT deals somewhat with the monetary scarcity that characterizes the current monetary system and paradigm, but it does not effectively/terminatedly deal with it mostly because it fails to see the exact nature/concept of the new paradigm and the specific point in the economic/productive process that an equally specific monetary policy can effect, that is, a new monetary, financial and economic paradigm.