Following santiago's comment, it is not totally obvious to me why you want to nationalise deposit-taking. That is usually not the part of the financial system that creates novel and interesting catastrophes. And TBH, I don't see much benefit from nationalising ATMs over, say, requiring interoperability at regulated rates, like we do for phones.

Also, inflation-indexed instruments are evil, and need to be purged with fire. Because they are liable to explode in your face in the event of a serious supply-side shock. In fact, inflation-indexed bonds is one of the few ways in which you can create hyperinflation in an otherwise healthy economy. Don't go there.

If you want to index, index to nominal GDP rather than inflation.

- Jake

Friends come and go. Enemies accumulate.