Although it wouldn't beat hard money 100% reservism, I'd like it if the Fed were to raise the Federal funds rate to 100%. That way, the banks wouldn't loan anything and interest on the debt would be so high that the Federal government would be forced to repudiate the debt and to balance the budget.
I've never understood why anyone who is not an elite in Europe is questioning repudiation. It would be a sharp pain initially, but that sharp pain would turn into long term pleasure for non-elite Europeans.
Who else would like to see a massive deflationary bust without the government bailing debtors out?
I was asking because I read on bloomberg that a few rather large banks have had their credit ratings downgraded and I'd like to see them fail for loaning out 90-98% of their liabilities.
I've never understood why anyone who is not an elite in Europe is questioning repudiation. It would be a sharp pain initially, but that sharp pain would turn into long term pleasure for non-elite Europeans.
Who else would like to see a massive deflationary bust without the government bailing debtors out?
I was asking because I read on bloomberg that a few rather large banks have had their credit ratings downgraded and I'd like to see them fail for loaning out 90-98% of their liabilities.
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