Currency Issuance Right
In the first place, the term “currency issuance right” contains a lie. To be precise, the right to issue banknotes. In other words, the right to issue a piece of paper at the same value as gold or silver coins. If government banknotes are issued, the credibility of the currency will be lost and hyperinflation will be caused by the lack of debt support, but there is no need for the government to borrow anything. It is okay for banks to borrow separately and back up the credit on government banknotes. In other words, it is possible for the government to issue government banknotes by having the central bank to take over corporate bonds without the government borrowing. Currently, according to the Fiscal Act, the central bank takes over government bonds and issues banknotes, but the right to issue banknotes is originally a natural right of each citizen. The government entrusts the right to issue the national currency to the central bank on behalf of it. The government wants to repay the country’s debt, and the people don’t want to be taxed, so fortunately, our country is a democracy, so we can take a majority and issue a law so that banks can repay the government’s debt.