… reserve drains with all revenue of government destroyed by the debt that created it to begin with. By balancing the money supply to the gold reserve value “policy space” could be created to allow the government to provision itself and pay for programs with spending.
I’d like to get more detail on this. How does this handle repayment of bonds? Does this imply repaying in gold, or re-asserting the value of the dollar to gold (or vice-versa)? I would think this would limit the ability of the fed to print money arbitrarily to pay for arbitrary programs. Maybe I misunderstand.