Debt deflation

The S/L queue is severely skewed, the past bonds held mainly by the super wealthy.

Wealthy people are willing to pay a tax to keep the currency out of Nixon Shock territory. This is a side effect of the fake double entry accounting money. As debt becomes unsustainable over the monetary cycle, taxes are required to keep the velocity equation accurate.

We also have another name, the budget will tend to balance, whether or not we try to prevent it. We have a name for that effect, sandbox theory of constrained flow. Eventually the tax is too onerous and wealth executes the MMT moment.

I keep mentioning the aliasing problem. Wealth can sample up through the complete spectrum, the rest of us cannot, a result of the debt cartel.  At some point, wealth sees enough to safely break off, institute their own liquidity net and just collect the regular 300 billion from taxpayers.  This is the same effect that makes quarks, I keep telling everyone, and I am right. I have just put the problem in sample space and aliasing effects become noticeable.