You may be interested in the Federal Reserve of WIP and its new coin, WIP which was announced today.
This is a Federal Reserve system by fiat. Therefore, it is subject to very different economics from the vagaries of a crypto currency.
We have the following broad goals long-term: maximum employment of the currency, stable prices, and moderate long-term interest rates. (Although note that at its introduction of course the parity price is without value.)
In particular note that currencies that are very fixed in their supply are always subject to scarcity in the money supply, i.e. if borrowers can't get their hands on some at a recent price. This explains part of what makes bitcoin's interest rates so high - but of course, this hurts adoption, and, therefore, ultimately it can possibly hurt price stability.
So in our case we can play with several factors: loan rates; the amount of new currency that we introduce, and through other means.
This means that long-term the Federal Reserve of WIP has a good chance of being able to maintain an extremely stable currency by fiat, with reasonable interest rates. We will see what happens.
Your public policy input is of course appreciated at all times. You can also write to the Federal Reserve of WIP at:
federalreserveofwip@gmail.comWe hope to hear from you and help shepherd a stable future for WIP.
Best regards:
Chairman,
Federal Reserve of WIP
