My updated Fed contract with Congress

I am going to add a yearly cash patent fee to Congress of 60 billion, plus the Fed agrees to default on 8 trillion.

Restrictions on the Fed:

Open accounts to a congestion priced representative sample of the economy. Plan for a one sigma 3% variation in price. Limit market making risk to a quarter point. Price neutral productivity gains and losses. My plan is nothing more than a much more accurate Nixon Shock. Everyone better off.

The Fed becomes non profit except employees earn bonuses for good trading within contract. The referee will estimate the accuracy of MV = PY at random locations, and the greater the accuracy the greater the bonuses. Keep bonuses at 2 basis points.

Congress won't repeal or over rule as the default promise releases discretionary spending right away. At any given time all parties risk a small inflation shock from defaults. The clause requiring a representative sample includes government agency direct Fed accounts, reaching the local level via congested aggregation.