3 ms·
It's also just a control thing. When private enterprises control (and create) money, they will do so based on their own interests. These might not align with th
by rvense 6y ago
It's also just a control thing. When private enterprises control (and create) money, they will do so based on their own interests. These might not align with the best interests of society at large.
- lainga 6y agoWell, in Keynesian analysis, the private enterprises are supposed to create money. The gov't manages how much they create though reserve requirements.
- eruleman 6y ago"As announced on March 15, 2020, the Board reduced reserve requirement ratios to zero percent effective March 26, 2020. " https://www.federalreserve.gov/monetarypolicy/reservereq.htm https://www.federalreserve.gov/monetarypolicy/reservereq.htm
- yunesj 6y agoIs it really your experience that the market fails to cater to the interests of the people, and politicians are uniquely capable of it? Politicians can’t print a dollar without abusing it to promote religion (“In God We Trust”), funding war, or handing it out to get reelected.
- aww_dang 6y agoRemoving "payable to the bearer on demand" seems especially relevant.
- deleted 6y ago[deleted]