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9/15/2022 02:32:00 PM
This might be the best discussion I've ever had on Reddit. I hadn't even gotten itno QE and when it bottoms out. The thing that seems odd though is that QE was essentially the gov loaning money to the banks so they could continue paying back what they needed to despite a bunch of assets losing value. I personally think this is all just a giant shell game where we have to constantly keep increasing the written down debt until every now and again someone is over-leveraged and then a bunch of dominoes topple. Wouldn't this make it even more sensible to taper down the banks ability to expand the money supply, while phasing in the UBI+tax system. Why is it not more sensible to slowly switch to a 100% reserve ratio (ie banks don't expand the money supply at all), and have a fixed rate of new money offset exactly by a progressive tax? I'm being totally serious here. I get why we historically did it this way and how things have just gotten more complex and tangled over time, but honestly, why not refactor the whole thing?