the objective : manage price levels
create an institutional set up at the national level
that does for price level dynamics
in the trinity markets (product commodity and asset)
what the fed does for the dollar and interest rates
end the equivalent for price levels
of the wild and wooly reign of precious metals
over the credit flows of the national economy
ie
end the anarchy of absolute pricing within market types
and the relative levels between market types
the absolute and relative price levels of various genre of markets
explicitly and socially determined by democratic policy processes
