Giving Treasury control of the money supply would lead directly to a CBDC model for the US.
No, thank you.
At that point we'd be better off with a form of cryptocurrency as the basis for currency, but one that was not subject to interventions and debasement by the Treasury.
Ideally, a cryptocurrency backstopped by gold and silver would obvi…
Giving Treasury control of the money supply would lead directly to a CBDC model for the US.
No, thank you.
At that point we'd be better off with a form of cryptocurrency as the basis for currency, but one that was not subject to interventions and debasement by the Treasury.
Ideally, a cryptocurrency backstopped by gold and silver would obviate the entire convoluted process of "managing" the money supply.
Failing that, if Treasury is going to be issuing currency they need to have a vetted supply of gold and silver on hand to support the currency.
Ending the Fed is a good idea.
Giving Treasury the currency creation role of the Fed, not so much.
Well, FWIW, Lincoln did exactly that when funding the Civil War, issuing "green backs" via the Treasury, backed only by the good faith of the Federal government. He was forced into this position because the northern bankers would only lend money at exorbitant interest rates.
I'm no fan of CBDCs, either. And, FWIW, backing currency with gold and/or silver only works if there is a fairly free market in precious metals, something we have not had for a very long time.
Giving Treasury control of the money supply would lead directly to a CBDC model for the US.
No, thank you.
At that point we'd be better off with a form of cryptocurrency as the basis for currency, but one that was not subject to interventions and debasement by the Treasury.
Ideally, a cryptocurrency backstopped by gold and silver would obviate the entire convoluted process of "managing" the money supply.
Failing that, if Treasury is going to be issuing currency they need to have a vetted supply of gold and silver on hand to support the currency.
Ending the Fed is a good idea.
Giving Treasury the currency creation role of the Fed, not so much.
Well, FWIW, Lincoln did exactly that when funding the Civil War, issuing "green backs" via the Treasury, backed only by the good faith of the Federal government. He was forced into this position because the northern bankers would only lend money at exorbitant interest rates.
I'm no fan of CBDCs, either. And, FWIW, backing currency with gold and/or silver only works if there is a fairly free market in precious metals, something we have not had for a very long time.