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No need to ban cash for arbitrarily negative rates to work. Simply introduce an exchange rate between physical currency and deposits. Simply introduce an excha
by dav-ycombinator 11y ago
No need to ban cash for arbitrarily negative rates to work. Simply introduce an exchange rate between physical currency and deposits.
Simply introduce an exchange rate between the dollar and it's physical representation.
Barriers are largely people's lack of understanding of how this works and how huge the benefits would be for society.
- CyberDildonics 11y ago> how huge the benefits would be for society Maybe if you think government and society are the same thing.
- dav-ycombinator 11y ago> Maybe if you think government and society are the same thing. No, I just think that neutral monetary policy which leads to full employment (defined as natural employment under given tax/regulatory regime) is good for society. Also good for govt's ability to manage budget, but that's secondary.