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Anyone can buy anyone else’s bond that the seller is willing to sell to. State does a matching buy if a bond sale isn’t discriminatory using a money printer go brrr mechanism. Matched bonds become mutually tradeable via a dollar-denominated bond market. Unmatched ones are alts.
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Gift certificate backed economy basically. Instead of centralized regulatory oversight, you get peer-based regulatory oversight within some limits. Like the personal ERC20 ICO economy everyone was excited about in 2017, but linked to fiat economy via stare-backed bond market.
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We need imaginative new fiscal mechanisms. This 2007-08 rerun that’s being cued up, with a crappy $1200 airdrop bolted on, is just kicking the tin can down street. Need to let everybody bet on everybody instead of Congress betting on Wall St with table scraps for the rest of us.
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Generalization of these plus more, like gofundme, Kickstarter, crypto, gift certificates, patreons... democratize reserve currency backing basically. Gold = people’s belief in each other, directly instrumented. Not leaders’ guesses about it.
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