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In David Graeber's book on money, one detail that I always remember when I read a comment like this is how coinage was created so many times throughout history
by BlueTie 6y ago
In David Graeber's book on money, one detail that I always remember when I read a comment like this is how coinage was created so many times throughout history as a way to support an Army.
King makes money -> gives it to the army -> collects money as a tax from all citizens.
It creates a system where all the people in the kingdom have to contribute to the army in some way.
Now The Fed creates money -> gives it to bankers -> gov't collects taxes in that coin.
So we've created a system where your ability to buy things is a derivative of how much you support banking. It's no wonder why everyone is overleveraged and fragile and needs bailouts all the time.