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Impoverishment of lower classes is the direct result of monetary debasement. There is simply no way to move up when what little you earn buys less each year.

Impoverishment of lower classes is the direct result of monetary debasement. There is simply no way to move up when what little you earn buys less each year. Monetary debasement is also why we have seen an increase in the wealth gap.

freeone3000 6y ago
If money was truly debased, you'd see wages and product prices rise. The asset classes we've seen increase in price are stocks, bonds, healthcare, education, and property. What we haven't seen increase are food, consumer goods, or wages. You can say that the currency is being debased, but the numbers are the same for 2010 as they in 2020. The issue is that there simply is no way to accumulate wealth on the amount earned -- there's nothing left after expenses. Inflation or deflation wouldn't help this.
- tastyfreeze 6y ago
  Wages haven't grown with monetary supply inflation. Every dollar earned buys less each year and wages stay mostly the same. Without debasement what you earn buys mostly the same amount of stuff the next year. Then you are able to save and count on your money actually being worth something when you need it. We have had over 100 years of debasement that increased in rate after 1971. You need to look at a longer time frame to see how badly we have all be fucked. We haven't had obvious consumer price inflation because the money supply is hitting the financial class first. Instead we have seen asset prices increase rapidly. With the stimulus checks every citizen has had a taste of what has been happening with banks for a century. But, we have had price inflation. Instead of raising the price at the store most manufacturers have opted to reduce package sizes for the same price. They didn't do this for your health. The price creep up is slow enough that it can be hard to notice. I am not sure how old your are. Think back of how much a dollar bought you when you were young. Can you buy those same items for a dollar now? How about 5 dollars? This is the pernicious result of debasing the currency.
  - tehjoker 6y ago
    The US is the most wealthy country in the world. The price increases in fundamentals and stagnation in wages reflects the growing power of the upper classes. If wealth was evenly distributed across the labor force, each worker would make $140k per year. If distributed evenly across the population, it would be closer to $70k. Instead it's closer to a $50k median wage with a huge tail of extremely poor people. This doesn't even approach the idea that money and debt are fake anyway and are political choices that have been chosen to impoverish weaker citizens.
    - tastyfreeze 6y ago
      The growing power of the upper classes largely the result of the way currency debasement is performed. Banks get the money first. They get to spend the fresh money before anybody even gets a taste or prices have a chance to catch up. It is a wealth transfer from the lower classes to the upper class. Without debasement and government meddling the playing field is much more level.

freeone3000 6y ago

If money was truly debased, you'd see wages and product prices rise. The asset classes we've seen increase in price are stocks, bonds, healthcare, education, and property. What we haven't seen increase are food, consumer goods, or wages. You can say that the currency is being debased, but the numbers are the same for 2010 as they in 2020. The issue is that there simply is no way to accumulate wealth on the amount earned -- there's nothing left after expenses. Inflation or deflation wouldn't help this.

tastyfreeze 6y ago
Wages haven't grown with monetary supply inflation. Every dollar earned buys less each year and wages stay mostly the same. Without debasement what you earn buys mostly the same amount of stuff the next year. Then you are able to save and count on your money actually being worth something when you need it. We have had over 100 years of debasement that increased in rate after 1971. You need to look at a longer time frame to see how badly we have all be fucked. We haven't had obvious consumer price inflation because the money supply is hitting the financial class first. Instead we have seen asset prices increase rapidly. With the stimulus checks every citizen has had a taste of what has been happening with banks for a century. But, we have had price inflation. Instead of raising the price at the store most manufacturers have opted to reduce package sizes for the same price. They didn't do this for your health. The price creep up is slow enough that it can be hard to notice. I am not sure how old your are. Think back of how much a dollar bought you when you were young. Can you buy those same items for a dollar now? How about 5 dollars? This is the pernicious result of debasing the currency.
- tehjoker 6y ago
  The US is the most wealthy country in the world. The price increases in fundamentals and stagnation in wages reflects the growing power of the upper classes. If wealth was evenly distributed across the labor force, each worker would make $140k per year. If distributed evenly across the population, it would be closer to $70k. Instead it's closer to a $50k median wage with a huge tail of extremely poor people. This doesn't even approach the idea that money and debt are fake anyway and are political choices that have been chosen to impoverish weaker citizens.
  - tastyfreeze 6y ago
    The growing power of the upper classes largely the result of the way currency debasement is performed. Banks get the money first. They get to spend the fresh money before anybody even gets a taste or prices have a chance to catch up. It is a wealth transfer from the lower classes to the upper class. Without debasement and government meddling the playing field is much more level.