Re:Richard Stallman: We Can Do Better Than Bitcoin
by dragonwriter on Monday November 26, 2018 @01:42PM
(#18535721)
> Unlike personal debt the fed can just print the money.
A part of why the Fed (and the same is generally true of independent central banks generally) exists (and why the Fed system is comprised of large private banks) is to provide a check (and, more important, confidence among lenders) against Congress simply monetizing the debt by separating the locus of decision making for monetary policy from that for fiscal policy.
A part of why the Fed (and the same is generally true of independent central banks generally) exists (and why the Fed system is comprised of large private banks) is to provide a check (and, more important, confidence among lenders) against Congress simply monetizing the debt by separating the locus of decision making for monetary policy from that for fiscal policy.