[ExI] Sell your Bitcoins!

[John Clark]

On Sun, Jun 7, 2026 at 5:44 PM spike jones via extropy-chat <
extropy-chat at lists.extropy.org> wrote:

*>I have heard that it was an incredibly stupid question*


*That's only because it was.  *

*> I have heard an illegal one: John’s suggestion that the Treasury prints
> counterfeit cash*


*Don't be ridiculous! I made no such suggestion, and worrying about the
government printing counterfeit money is like worrying about Michelangelo
having carved a fake Michelangelo statue. The Federal Reserve has been
increasing and decreasing the money supply since 1914, when unemployment
gets too high they increase the money supply, and when inflation gets too
high they decrease it. *

*For over a century whenever the Federal Reserve wanted to increase the
money supply (print more money) they had several tools they could use to do
that. They could buy Treasury securities or mortgage-backed securities from
banks, and the payment for this purchase would be simply created, no
existing money is transferred.*

*Another tool they can use to change the money supply is by adjusting the
interest it pays on bank reserves, when it lowers that rate there is less
incentive for banks to keep their money there and more incentive to loan
that money out. *

*The Federal Reserve can also change the discount rate it charges banks for
borrowing directly from the Fed, lowering it makes short term borrowing
cheaper, increasing a banks tendency to loan aggressively.*

*And if the Fed wants to reduce the money supply rather than increase it
they simply run these tools in reverse. *

*> POTUS does not command the treasury.*


*By law t**he Federal Reserve, an independent agency, controls the money
supply, not the treasury. And its 7 Board of Governors command the Federal
Reserve, and all 7 are presidential appointees with 14 year terms of
office. Assuming that the president has not appointed certifiable morons to
those 7 positions (admittedly that is a rather large assumption considering
the mental health of our current POTUS) when they see that unemployment has
increased exponentially but productivity has ALSO been increasing
exponentially, they will know what to do. *


> * > ** If there is some way to find money, why aren’t we finding it now,
> to balance the budget?*


*We can't do that today because as of today productivity is not increasing
exponentially, but that is going to change in less than 10 years, probably
less than 5, perhaps much less. *

*John K Clark*



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