Re:Facebook Libra Is Architecturally Unsound
by linuxftw on Friday November 08, 2019 @09:30AM
(#21482438)
> Government handles the fiscal policy, federal reserve handles monetary policy.
This is entirely semantics.
> And once you agree that this kind of adjustment achieves your objective of "relatively" stable currency
I can prove to you that it doesn't result in a stable currency. See the purchasing power of the US dollar over the last 100 years.
> This is called managing the money supply
That's what you call it. I call it theft. If an individual does not have the power to create money, then neither should a group of individuals, regardless of what color robes they're wearing.
> Otherwise you face D vs. R every 4-8 years totally reversing monetary policy
I don't think there's any risk there. They're the same party, both are spend-spend-spend.
This is entirely semantics.
> And once you agree that this kind of adjustment achieves your objective of "relatively" stable currency
I can prove to you that it doesn't result in a stable currency. See the purchasing power of the US dollar over the last 100 years.
> This is called managing the money supply
That's what you call it. I call it theft. If an individual does not have the power to create money, then neither should a group of individuals, regardless of what color robes they're wearing.
> Otherwise you face D vs. R every 4-8 years totally reversing monetary policy
I don't think there's any risk there. They're the same party, both are spend-spend-spend.