inflation can slow down in lands governed without revenue collected by the legislated executive. inflation (i.e., creation of exchange mediums) is good.
creation of valuable goods is good. preserving and working with them is good too.
but if any medium of exchange is hoarded or clipped by any central govt institution into legal tender then that is deflation.
so a history...
The 2nd generation of New Rightists misinterpreted or lied about Chicagoan proposals but unlike their 1st wave cousins they actually made public policy and went counter to what Friedman suggested. That is, Milton Friedman supported a Fed policy that stabilized inflation (like he said, constant increases in money are good and very possible) which are an economically sound idea; basically i am thinking it could possibly be done by Congress simply repealing the federal funds rate which no one is ever satisfied with, repealing the board of governors, while allowing each of the 12 regional banks to govern themselves. Also, no more direct contributions to the treasury from the regional banks. No existing debts would be altered or increased.
In other words, 12 regional banks governing themselves means deflation of the money supply isn't possible. Wall Street could actually cooperate
is that a good proposal?
i hope so!
creation of valuable goods is good. preserving and working with them is good too.
but if any medium of exchange is hoarded or clipped by any central govt institution into legal tender then that is deflation.
so a history...
The 2nd generation of New Rightists misinterpreted or lied about Chicagoan proposals but unlike their 1st wave cousins they actually made public policy and went counter to what Friedman suggested. That is, Milton Friedman supported a Fed policy that stabilized inflation (like he said, constant increases in money are good and very possible) which are an economically sound idea; basically i am thinking it could possibly be done by Congress simply repealing the federal funds rate which no one is ever satisfied with, repealing the board of governors, while allowing each of the 12 regional banks to govern themselves. Also, no more direct contributions to the treasury from the regional banks. No existing debts would be altered or increased.
In other words, 12 regional banks governing themselves means deflation of the money supply isn't possible. Wall Street could actually cooperate
is that a good proposal?
i hope so!
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