Institutional arrangement 1
>FED is maintained.
>Financial corporations have induced regulatory capture over the FED.
>Not ideal, but at least financial corporations have a large incentive to ensure that the U.S. maintains a currency that is relatively strong compared to other nations.
Institutional arrangement 2:
>FED is abolished.
>Great, now the U.S. Congress is in control of the money supply.
>B-b-b-but the constitution says that only gold and silver may–
>Congress ignores that as it does the rest of the constitution.
>Hyperinflation in 3…2…1…