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You will gt downvoted like there is no tomorrow here, but you are factually correct. Sadly people do not grasp our fiduciary currency based financial system. W
by PeterStuer 7y ago
You will gt downvoted like there is no tomorrow here, but you are factually correct. Sadly people do not grasp our fiduciary currency based financial system.
We create money all in extreme amounts all the time. Money is not some sort of 'ore' which we have to mine out of the planet through hard labor. It's a resource we create at will by simple agreement and at the push of a button in unlimited quantities. The 'downside' is that 'new' money potentially can devalue existing money, as there is just more to go around.
Giving the massive amounts of money we create daily to those that need it, for instance to retire after a reasonable lifetime of work, in some twisted logic feels 'bad', where lavishing it on those that do not need it, so they can use it just to hoard, speculate, or buy back their own stock, seems to be accepted as 'fine'.
- dmix 7y agoComparing fed injections to expanding social security spending is not "factually correct" though, it's a very weak analogy and two very different things. You can be critical of QE, monetary policy, and the general priorities of the government but it doesn't make OP's point a helpful one. Especially considering the lack of centralized control, let alone the various other major differences between it and entitlement spending.