The Fed can become an independent non-profit corporation

As part of the deal, Treasury gets to keep a third f the board seat.  The function of the boards to to insure adequate entry and exit of prequaled account holders, and maintain security of the 15 year contract.

The contract simply states the order to default 8 trillion over 15 years, and run a fair trades S?L currency emitter at price neutral. Free entry and exit  means any group can aggregate up to justify the congestion fees and have a Fed account.

We get a frantic senate to sign on to the deal. It frees up small state discretionary budget, get them on board. It comes with a favorable entitlement swap for the millennials and more progressive wealth tax. Boomers do not deserve much, well they deserve better than the previous, and so on; but the millennials are not previous anything, they are up to date.

The congestion fees, paid out on exit,  and visa versa, provide funds to chase crawl backs, small defaults here and their.  Put that clause in the contract, defaults of all kinds must be priceable. That privileges balance to keep the savings to loan a symmetrical risk play, and currency error is priced and expensed immediately. In the contract.

The contract passes muster with the Supremes. Bankers have a stack in a common accounting standard, and making the velocity equation tend toward more accuracy always is in their interest. They support the standard, take public cause for it and this passes muster as a non-profit with viable damages on contract voidance. Banker give up some prior right, in exchange for others, and do so with a foundation supporting the new Fed, seal the deal.

I have millennial fintech readers n this blog, they get what I am doing, making the tax dollar sandbox compatible. Great idea, nobriner. Simple to imlement, it is exactly what the fed is doing now, and has been doing, rounding up a representative sample of depositors and borrowers.. Powell and Ben believe this theory, they just won't say so.

The outcome will be to go on cash flow accounting, defeat and extinguish MMT banking everywhere in government, and make Keynesian stimulus work, for the first time in history. The shovel ready projects will be visible when the managing agency has access to a Fed account. I will extend Paul Krugman's career another ten, he can go get a Nobel prize again.