> 1920s Germany I don't want to be the guy who looks past an argument to make a needling correction, but... couldn't you use a better example here? These GSEs/

> 1920s Germany I don't want to be the guy who looks past an argument to make a needling correction, but... couldn't you use a better example here? These GSEs/CNIs that you advocate for could not possibly have protected 1920s Germany from hyperinflation -- war reparations were forcibly imposed onto a puppet government installed by outside powers. > government sponsored entity, like the Post Office I don't believe this is a good model. If you give a single entity a monopoly on a critical service, you are implictly agreeing to prevent it from failing, because there is no backup plan. Just look at the Post Office... it's not allowed to go bankrupt, so instead it just accumulates more and more debt forever. The incentives are all out of whack and it all amounts to the worst of both worlds.