re: #453 medaura18586

It wouldn’t. But it would make the size and scope of the deficits crystal-clear. It would distribute the consequences of that borrowing contractually, instead of collectively. People would still know how much real money they have in the bank, its actual worth, and could plan for the future with far fewer uncertainties involved. There would be no arbitrary redistributions of wealth. There would be fewer and smaller bubbles, lower levereging, greater financial stability.

No, see that’s a big hazard that the Paulians always trip over. It’s called a global economy.

IT ONLY MIGHT WORK IF ALL THE ECONOMIES IN THE ENTIRE WORLD GO ALONG WITH THE SCHEME!

/good luck with that