Krugman wants a model of government deficit binges

OK, I laid out the chart. With the ten year at 2.3%, the interest expenses in the DC budget swings 100 billion, or a bit over half a point the economic yield.  That is an expense, a transaction cost as the economy has to set aside the money and inventory to cover budget volatility.  The chart says the volatility increased significantly since 2003, and recently has gotten worse.

The new technology banking system has much lower interest expense volatility, which is a market variable and adjustments made to keep volatility minimum optimum. Lower transaction  costs, so the new pure cash technology takes over the dollar domain, the central banker and Congress become blind. The dollar relegates to a regulatory coin; complete with regulatory bot; and Treasury trades all the new virtual coins.

What is the best monetary stimulus?

The Fed should join  the Ethereum foundation , and make the trusted network operational for a Fed bot. The fed could co sign daily balance adjustment to one bot, and quarterly regulatory adjustment to another bot.  Release the Python routines as open sourced, enforced transactions. The regulatory bot has an open lever, an adjustment, a tool.  The daily balance bot runs the open market for overnights, completely automate. There would be an implicit Daily Coin, but it could be made explicit.  In the grand scheme of things, he Daily Coin is a semi-table node in the tree of monetized information network queues