Although it seems like fractionally reserving would also cap demand for Treasuries sooner or later. When that demand dries up, maintaining the reserve currency would necessitate some kind of dollar backing, à la your proposal at the BPI this spring.
In the end it all comes back to fiscal discipline, which is downstream from national character. We haven’t balanced a budget in over two decades and the public appetite for bread & circuses seems strong as ever today.
I hope I’m wrong.
steve / Steve Carr, CFA
npub10mv…alta
2024-05-25 13:30:54
in reply to nevent1q…y37h
Author Public Key
npub10mvl2g6tu76q6k4hsmam6hrsvhu99guk4c0q9tlzu5789stvz7usy9altaPublished at
2024-05-25 13:30:54Event JSON
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