[seydor]

Imagine if people voted or staked dollars to decide how many dollars the Fed or ECB should print. It looks like it had been suboptimal for most of history that s why the previous monetary systems successively failed. Maybe there is some kind of game-theoretic gradient that leads to monetary failure by default, which needs to be fixed by central banking . But there is no place in the world where people vote their central bankers, they are among the most opaque world leaders out there.