Nominal-GDP-level targeting would be better called the “hoard and debase plan” because all it does is further enable a obviously corrupt oligarchy. Here why:
The benefits of the nominal-GDP-level target plan at the Fed: (1) it enables the savings of more Dollars as a mechanism of “store-of-wealth”. (2) debasement of the Dollar Standard is delayed until that “store-of-wealth” is spent.
The cons of the nominal-GDP-level target plan: (1) “Federal Government: Current Expenditures” increase to make up for lack of “private” spending or, if independent spending picks up (due to “good spirits”,) government spending or Bank lending on the behalf of congress *must* decrease. (2) the Government or Banks is forced to the will of “private” evil rich people, crooked politicians, and all other petty spenders of Dollars.
Elastic Republic Ballot Market 