Gold works for accounting. It maintains a static money supply. Fractional-reserve can provide expansion.
Gold works with the existing dollar. Federal Credit Receipts allow it to be tried in a city/region and roll it out over time.
Sunday, December 30, 2018
President Trump: Replace the Dollar With Gold
https://www.forbes.com/sites/ralphbenko/2017/02/25/president-trump-replace-the-dollar-with-gold-as-the-global-currency-to-make-america-great-again
Gold works for accounting. It maintains a static money supply. Fractional-reserve can provide expansion.
Gold works with the existing dollar. Federal Credit Receipts allow it to be tried in a city/region and roll it out over time.
The trick would be to revalue gold periodically (perhaps monthly) and all the products backed by it. One thought might be to issue dollars, with gold setting prices on producers. Producers can collectively decide on prices. As the economy grows, producers would lower prices once/month.
Gold works for accounting. It maintains a static money supply. Fractional-reserve can provide expansion.
Gold works with the existing dollar. Federal Credit Receipts allow it to be tried in a city/region and roll it out over time.
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If the economy expands, the price of money goes up: interest rates rise. That lowers purchasing power, reducing demand for products and services. That lowers prices.
ReplyDeleteWhat could the banking industry do to reset interest rates (once a month) to match money supply requirements? Can the Federal Reserve set the interest rate at 0% or should it start at 1 or 2%? We can test that regionally with Federal Credit Receipts and by assigning all digital dollars a unique serial number.
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