On Fiat and Law

Power of a Currency Issuer

I have finished The Deficit Myth, but do not have sufficient clarity to agree with part of the thesis — that the Federal debt is not a highly problematic obligation. Ultimately, the argument comes down to case studies, which perhaps no one truly understands.

Power of Sovereign Law

Key takeaway — the true power of a currency issuer is the power of law. Power to enact laws allows for large-scale asset hair-cutting, and ultimately asset destruction.

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Alan

Alan

Obligatory analytical writing, online participation account for Medium. Engineering, software, books, space, constant daydreaming.