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The Financial Repression Tax
When controlled nominal interest rates coupled with inflation produce negative real interest rates, it liquidates the stock of outstanding dubt. Even in years when the real interest rates are positive, to the extent that these are kept lower than they otherwise would be via interest rate ceilings or other policies, there is a saving and interest expense to the government. These savings are sometimes referred to as the financial repression tax. The more institutions and guard reels you have, the longer you can get that to work well enough - compared to failed countries.