x^(a + b) = x^a * x^b, you know! You can't do anything about it.

Stop trolling. Delete all your messages before it's too late.

cunicula has presented a very interesting scenario and no one tried to prove it impossible except by trolling or personal attacks. I'll try to show that it's not so easy as cunicula claims it to be.

You see, the described scenario makes 51% attack very profitable (because the central bank profits off of it). This means that a third party will be very much motivated to claim this power to themselves, so the central bank will be constantly pressured to increase its hash power to compete with the third party, ideally to the point of next-to-zero returns from monetary policy. What do you think about that?