"Optimal Monetary Policy" by James Richard Spriggs, email [email protected] .
The Optimal Monetary Policy is to achieve the maximal sustainable deflation of prices. The way to do that is to maximize the worth of the reserve assets divided by the monetary base.
The more a currency increases in value over time, the more desirable it is to hold it. The Fed should change its policy to increase the value of the dollar as rapidly as possible. The Monetary Base should be made equal to the sum of the prices of the reserve assets. Only pro-cyclic assets should be held in the reserve.