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Out of all the things you can argue in defense of, central banks printing money and handing it straight to the richest people on earth has got to be one of the
by seibelj 6y ago
Out of all the things you can argue in defense of, central banks printing money and handing it straight to the richest people on earth has got to be one of the weakest. “Just throw out the Venezuelan government!” If only that were so easy. Meanwhile millions of people starve to death! There really isn’t a use for a monetary unit decoupled from the government?
- arcticbull 6y agoNew money doesn’t go to “the rich” per se it’s the product of loan origination. Whoever borrows money. In America that’s a national pass time for everyone. I wager the lower income borrow more as a fraction of net worth than anyone else. I’m curious how an inflation free money might stop people starving in a country unable to provide even the most basic services? Decoupled from government maybe - though to a degree all the major central banks are. But it’s the passive management by an unelected group who made completely arbitrary decisions accountable to nobody with no consideration for what makes a good currency.