Would you me prefer to say the dollar as been devalued so much that zinc a formally worthless metal like zinc is 3¢ on the penny. Or that nickel in a "Nickel" is pushing nearly 13¢ on a 5¢ piece.
Just make the structure independent of the government.
The UK central bank (The Bank of England) for instance has operational independence over monetary policy, sets the inflation rate, etc, (sometimes in opposition of the governments wishes), though it is still owned by the UK government.
And this is a relatively new thing, around the late 90s was when they were spun out.
The 80s and 90s were wild monetary era that resulalted in huge inflations.
Same happend in israel mid 80s.
Central bank has its independence, but eventually with long enough reign of controll by one man/ party (like whats happening with us with fkn bibi's decades of control) they can replace the 2nd/3rd chaine of command, which eventually one of the replace the head of the bank, and with it the loyalty to the country.
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u/ProfessorPrudent2822 1d ago
3% of GDP as reported by whom? This idea incentivizes manipulating the data.