You are viewing a single comment's thread.

view the rest of the comments →

0
0

[–] principle [S] ago  (edited ago)

The US Government cannot take control of a private company like the Fed which is owned by its member banks. There is no reason to do anything about the Fed either. Simply ignore it. Issue The US Note and it will trade separately from the Fed Note, just like any other currency. Just make sure to recognize that all debt like bank deposits and corporate paper are US Notes. The banks debt would remain in Fed Notes and will immediately plunge to near zero. Banks will go bankrupt but the economy will not.

PS. Mortgages will also go to zero. :)