> Except they're a failure at it. We have boom and bust cycles anyway. Remember 2000, 2008, 2022? Those cycles weren't nearly as bad as the ones that came befo

> Except they're a failure at it. We have boom and bust cycles anyway. Remember 2000, 2008, 2022? Those cycles weren't nearly as bad as the ones that came before it. > The "whole point" of fiat money is to be able to spend money without having to tax it first. That's why the European powers adopted it in WW1 - to finance the war. Sure. You haven't explained why this is bad except 'inflation'. I think inflation is a small price to pay for relative stability. > It refutes the notion that the quantity of gold in an economy has anything to do with prosperity. No it doesn't. It illustrates that idiotic people with a lot of resources can do stupid things with them. > Why have Japan, Taiwan, Hong Kong, S Korea, and New York City become economic powerhouses despite little or no land? Poor people do become rich, but that doesn't refute that it is a lot easier to become rich(er) when you already have a lot of money.