It is the correspondent, hierarchical ledger system. It is an underestimated technology and fits well in the new environment. Exactly suited for the tax dollar as long as it does not bear the tax collection burden. I think, in the end, Swift bankers will adopt the philosophy. And it is a fair trade for a few years of limited double spending by Treasury. So we sill not see a Nixon Shock. We will see a few mini Nixon humps for the next generations.
And it will tend toward price neutrality because of the sheer efficiency of just negotiating and agreeing on natural government losses. It is the final acknowledgement that the law does not admit to a uniform philosophy, but we have a good measure of this volatility. That is that one thing we all agree on, a double spending number between .4 and 1.5, (inserting my own bias here) to be set by a market we volunteer to enter. Then let Treasury execute the inflation tax implied in the right to coin, unhindered, and variant enough to meet emergencies.
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