Posts by The next Phil but one 3 publicly visible posts • joined 23 Jun 2010
Same here.
However, around the time the person in the article claimed it stopped working, it switched from launching the internally bundled web browser to launching the system browser as a front end. No idea why.
It might be worth checking that xdg-open can launch a web browser on the system in question.
You're talking about the "loanable funds" model of how the banking system works. It's true for non-bank entities that don't get to issue their own credit as being equivalent to cash. If you're a bank (or any other entity whose credit is traded as if it were "money") then the financial system works differently.
Have a read up on MMT (Modern Monetary Theory) if you're interested in learning about this way of looking at the financial system.
So what *is* the downside?
An inflation rate of 40% a year is a massive drag on growth, no matter how predictable it is. Plus, you've just eliminated *the* major demand for £s on a day to day basis: the necessity of collecting enough of them to pay your taxes. In your scenario I'd expect the private sector to go underground as much as possible & move to some other medium of exchange.
What might be sensible is to stop bothering with the ludicrous idea that the government should borrow money at interest in order to fund a short term deficit: there's a decent case to be made that deficit spending *should* simply be printed.
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