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The poster is correct: money is a social phenomenon which the US can create all it wants. (In fact, most of it is just numbers in databases. Points in a game. T
by calibraxis 11y ago
The poster is correct: money is a social phenomenon which the US can create all it wants. (In fact, most of it is just numbers in databases. Points in a game. Those who control the game's rules have everyone wasting endless time life chasing these points.)
More important than creating money is having by far the biggest guns. What does it mean to be owed a "debt" by the person who controls the currency and most of the guns?
Yes, there are "consequences" to creating more money. Every act has consequences. If someone advises you to drink a lot of water, should I respond with counterexamples where someone drank from a firehose?
- Gibbon1 11y agoAs far as consequences are concerned, traditional economics as opposed the the crap that currently in vogue teaches us the exact technique to deal with excess debt; wage and price inflation. That's how the US successfully retired it's WWII debt.