@johnefrancis the wealth of the ultrarich places very little pressure (in per-dollar terms) on the inflation constraint, so yay the state has lots of room to spend.

unfortunately the wealth of the ultrarich weighs very heavily on influence of the state.

so despite the theoretical liberty that comes with state-as-currency-issuer, it becomes difficult for states to act in ways that would upset the general enslavement upon which the privileges of the rich depend.