26 May 2020 8:12 am
...thanks for this...i couldn't find where he specifies, somewhat precisely, who gets the/any 'newly-created money' in 'the first round of spending'...what i refer to as 'the issuance of money'.. that's very very important to me...Polar1ty » 23 May 2020, 11:52 pm » wrote: ↑ Worth a read
https://www.unz.com/article/financial-follies/
He notes problems with the "gold standard" and how "legal tender" was widely abused to FORCE creditors to accept "bank notes," which eventually became worthless because of the "boom and bust" caused by the overextension of private credit
His solution is interesting - he suggests designing a "metric" for the currency we use (such as the fact that a gallon of gas back in 1920 = a gallon of gas in 2020; a "gallon" is easily quantifiable/measurable) and vigorously enforcing its value based on said metric.
Also mentions bank counterfeiting the money supply into existence - seems to be a "monetary realist" with a slightly different take on the "solution" compared to what you proposed
...unfortunately, it is not important to, or understood by, republicrats... and so they will spend their energy on what they know: sports, fast food, pro wrasslin and trump vs. biden...