Tuesday, December 24, 2019

So three color means a profit stream?

One way or the other, yes is a good answer.

And as a good anarchist, I don't care if government treats central banking as a profit center. I care that the government pretends otherwise. The government needs to treat the monetary fee as a tax, but you can feel free to call it a profit.

But we know how government ultimately collects the tax, a devaluation.  Everything is still fine in my anarchist model, just bet the defaults ex ante, share the risk in estimating government losses going forward.

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