"I've always been in favor of abolishing the Federal Reserve and substituting a machine program that would keep the quantity of money going up at a steady rate."
- Milton Friedman (Economics Nobel laureate)
By implementing monetary policy (particularly on interest rates and the money supply) through deterministic rules, the behaviour of the Smartbond system is clearly specified in all circumstances. These rules embodying sound economic principles are applied automatically, leaving no room for biased judgement or unforeseen outcomes. This also enforces discipline on the system to always follow the rules which users have subscribed to, providing confidence over the long term.