You cannot bring your insurance contracts to MMT meeting

As I tell everyone in the MMT crowd, but they got bad idea.  MMT meeting i about amount and period, two numbers (and a renewal option) .  Overlapping generations meetup comes later, they have to be in that order as MMT meetup sets a price standard.  MMT meetup get us a smooth path around right to coin.  By betting the repeatability, we spread the turbulence, price it as we go along. Any hard bound like right to coin needs its own color, the New Fed will pack a default stream into its normal currency risk account.  Then the generations can overlap, Stiglitz can hand around for the renewal, and get three under his belt.



The MMT makes the tree trunk rounder, the hologram more accurate, and the overlap more fun. We end up with the minimum generators in a loop, constrained by fixed bandwidth.  When the New Fed burns bonds, that induces crowded entry to membership as parties see the gain of avoid the inflation early, with a Fed account.  Congestion fees go to currency risk account, this is not profit.  The New Fed can stabilize flows to pack a channel, but there will be classes, the occasional  non-adiabatic restructure leading to short term price spiking.  The carrying the map is really the causes here, this is adaptive, adjustable, finite  Huffman window. The New Fed has a bounded contract to default to get its renewal option.

If infinity existed it would be a zero mean white noise pricing variation.  But the residual cycles carries the map, it calibrates out generators (balance sheets). They are like Lagrange points in gravity, a reference axis. We have simply improved our tuning.

Congestion fees carry margin risk to the account, but the less risk they carry, the better collateral they make.  But there will be a slight risk, on the margin the New Fed may lean a bit on the congestion fee flow. If the congestion fees can be may mostly refundable, then we have collateral, prequals greatly simplified. Congestion carry slightly more variation than nominal. On the margin, congestion fees carry the right to coin costs, but not all of 'Moore's Law' imbalances.  repricings caused by looking back with beter information.  In the contract say,' Stabilized queues', and leave it at that, it sums to currency risk anyway. 

Everything has an outside boundary of nominal half point variation. The defaults are mandated, and the New Fed does not completely offset with endogenous gains, the spiking that happens in prices. I suspect we will soon be looking at long term, zero bound price variation, and enjoying it.