On 2013-06-20, at 4:16 PM, nathan tankus wrote: > I don't know about pen-l but i know the monetary policy i would implement. > > first make the federal reserve an official department of the treasury > (this is actually how monetary policy worked before the fed). This is > mostly just political since the fed is already legally a "fiscal > agent" although it would then mean the treasury could just directly > spend settlement balances into the banking system (which the treasury > can already do with the much maligned "platinum" coin). Then set > interest rates at zero and stop issuing treasury bills. I wouldn't set > long term interest rates (so no "qe") simply because that would push > up mark to market wealth inequality and would take too long to > seriously impact rentiers.
This is consistent with "modern monetary theory", no? _______________________________________________ pen-l mailing list [email protected] https://lists.csuchico.edu/mailman/listinfo/pen-l
