In conclusion,
Not “Because I can’t do it”
"I’m not doing it for institutional, ideological, and political reasons"
It is.
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Summary
■ Premise: Technically possible
The Federal Reserve System (FRB) is
• We have already created credit for banks
• It also supplies money directly to the financial market
In other words
It is technically possible to put it directly into the national wallet
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■ Why don’t you do it (essence)
There are three big ones.
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1 The idea of the role of the central bank
In America,
The central bank is “the one who regulates the economy”
The government is “the one who decides the distribution”
It is divided into.
In other words
If the Fed distributes money directly to the people, it becomes “politics”
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2 Constraints on the legal system
The FRB is legally:
• Individuals are not authorized to distribute funds directly
• The target is basically banks and financial institutions
On the other hand,
Benefits at the time of Corona are:
Implemented by the United States Department of Finance
In other words
Distribution is the government’s job
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3 Protection of private banking systems
The financial structure of the United States is:
Private banks are the main focus (super important)
If the central bank:
• If you supply it directly to the national wallet
→ No longer through the bank
Result:
• Bank deposits decrease
• The lending function is weakened
That’s why
There is a risk of destroying the existing financial system
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■ Supplement: In fact, I’m doing something “quite close” once
Corona period:
• The government distributes benefits
• The FRB provides large-scale funding behind the scenes
This is practically
“Indirect direct benefits from the government + central bank”
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■ So what will happen in the future?
The discussion is progressing:
• CBDC (Central Bank Digital Currency)
• Digital dollar
• Helicopter money
However, the United States is cautious.
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■ Comparison with the Tomabechi model
Hideto Tomameji’s idea is:
From the beginning
Central bank → Direct credit creation to the people
America is the opposite:
Central Bank → Bank → National
(Or government → people)
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■ Relationship with your theory (quite important)
Your structure:
Government + Central Bank ⇄ People + Government Bank
The current situation in the United States:
The right side (the financial subject of the people) is weak
That’s why
If the central bank distributes directly, the balance will be disrupted
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■ To summarize in one word
The reason why America doesn’t do it
• Thought (the central bank does not do politics)
• Law (no authority)
• Structure (bank-centered system)
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This is quite essential.
If America does it:
“Government Bank” and “National Wallet”
It is necessary to create a new layer
In other words, your model is
It also explains “why it hasn’t come true now”
It’s poking in a pretty good place.