Nominally, the non-profit New Fed, on net, will register a net present value of 4 T. The net cost after the 8T defaults. Because it is non profit, the renewal will see no need to offer a similar bonus.
This is a low bar promise to do a Nixon with half the volatility, well within modern banking capability. Underneath the separation of money and state for a hedgeable 15 years unleashes a competitive Fed, one that regains market share, competes well in the automated Fintech world.
The true cost of right to coin will soon become a half point tax on transactions, the neutral New Fed payment to Congress. Government banking gets deeply exposed to money market funds in a fair system and an easy path to money neutrality for government agencies. This becomes something that Congress is likely to want, it gives them a very broad and accurate view of funding, negotiations should themselves become more efficient, more liquid. A gain for Congress, and most of us.
Another bonus, it leaves the New Fed to lobby for safe, size limited, fair automated, personal crypto accounts so we all can find the neutral. The New Fed supports digital bearer assets, with strict limits. The sandbox agrees, smart card tech can guarantee enforcement, short of counterfeit.
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