Executive take over the Fed - an idea pushed by Musk
“Executive take over the Fed - an idea pushed by Musk”
What I favor is a blocked currency like India has. The Chinese stuff would get paid for by US dollars that would be lent to the federal government at 0% interest until the Chinese use it to pay American workers or buy American goods.
There would be no tariffs involved, so the Chinese imports would not cost American consumers more money.
The system would apply to all countries, including Mexico and Germany.
American companies would get no interest on deposits either. If they paid dividends, the American citizen shareholders would then be able to get interest via participating banks.
Remittances to foreign countries by say Mexicans would have to be in the form of American goods and services.
For an American to travel to Europe would mean arranging for a foreigner to travel here via a trip bartering agency.
The existing dollars held by foreigners would remain outside the system. These would become less valuable due to inflation. Interest payments on American debt would be paid into the system.