buying assets. If all asset prices could not fall relative to the currency. But this is all academic because we are not going to see free banking any time soon. I idea of a FICA holiday is much more reachable. It seems right if people are holding too much debt to get money in the hands of the debtors. Let them buy pay down their debts and hold on to their assets so those assets do not depreciate. "I idea of a FICA holiday is much more reachable. It seems right if people are holding too much debt to get money in the hands of the debtors. Let them buy pay down their debts and hold on to their assets so those assets do not depreciate." Should have read: I like the idea of a FICA holiday is a much more reachable. If people are holding too much debt the goal should be to get money in the hands of the debtors. Eliminate FICA and let them pay down their debts and hold on to their assets so those assets do not depreciate. "When flow goes down, banks can bring it back up again by lending more. Changes in velocity get offset by money stock." He seems to assume that banks can force loans on credible borrowers. Ignores the fact that, one sentence earlier, he himself asserts that flow is going down, which to me means that people are not taking on additional debt. I think it's an operation-free reading