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The 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 irrele
by Randgalt 11y ago
The 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 11y 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.