Personally, I feel that can not ever be the case and so the time period needs to be scrapped altogether. In that case step 7 money would show the same kinds of fluctuations as a step four credit money (which might presumably change into totally convertible after the struggle). 7) could be different from credit money (4), say resulting from changing warfare fortunes. I suppose I may have introduced a (7b), the place the government says that it'll quickly cease sending agents to the market to purchase/promote bonds to enforce the $1/gram worth, while promising to restart this practice when the battle is won. A fiat bank will asynchronously apply a adequate interest charge to borrowers, in the meanwhile that the imbalance between lender and borrowers exceeds the pre-outlined error band.
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