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Wealth and income are denominated in dollars, or other bank currency generally, so they are bound by their availability. For example, you cannot have $2,000,00
by jsprogrammer 10y ago
Wealth and income are denominated in dollars, or other bank currency generally, so they are bound by their availability.
For example, you cannot have $2,000,000,000,000,000 in annual income, simply because $2,000,000,000,000,000 do not exist.
>I got it by trading with someone else.
If you examine the transaction in its historical context, there will be a chain of trades going back to a bank loan (or multiple).
You seem fixated on the trade of dollars, while seeming unconcerned about how dollars come to exist.
- Randgalt 10y agoThe money could have come from a gold deposit 150 years ago. Who knows. It doesn't have to come from debt. The number of units of currency I have is also irrelevant. The only relevant thing is how valuable those units are to someone else. The value of the units is directly correlated to the amount of work required to get the units.
- jsprogrammer 10y agoThe amount of non-debt money in circulation is <20% and always shrinking. >The value of the units is directly correlated to the amount of work required to get the units. Do you have a proof of this? I doubt there is much correlation between "amount of work required" and the value of the units. The FRB has instantiated ~$4,000,000,000 with almost no work required and its dependents have gotten those units, also with very little work required.