tag:blogger.com,1999:blog-8897997766931633186.post7633478430741111572..comments2024-02-14T03:21:37.506-05:00Comments on Monetary Freedom: Deflation and the Optimum Quantity of MoneyBill Woolseyhttp://www.blogger.com/profile/06330232724290161369noreply@blogger.comBlogger1125tag:blogger.com,1999:blog-8897997766931633186.post-51556388826495504452009-12-01T14:59:18.023-05:002009-12-01T14:59:18.023-05:00Breif observation: under private, free-market han...Breif observation: under private, free-market hand-to-hand currency issue, no one has monopoly pricing power. This means that seignorage will be very small and money issuing firms be efficient. Also, the quality of money will be higher.<br /><br />"If the central bank can provide liquidity services at no cost, then having private banks do so is a waste."<br /><br />That statement bothers me, because there always is a cost, and the cost for monopoly/government actions is usually higher than for competitive market actions.Doc Merlinhttps://www.blogger.com/profile/13615897698740661539noreply@blogger.com