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Insanely bad idea. People will always try to store their wealth in inperishable goods. People will get rid of their perishable money and buy property. Which is

by Geee 3y ago

Insanely bad idea. People will always try to store their wealth in inperishable goods. People will get rid of their perishable money and buy property. Which is what happens now already, because of inflation. When property becomes a "money" in a store of value sense, it will become overvalued, and people can't afford houses for living anymore.

gspencley 3y ago
> People will always try to store their wealth in inperishable goods. Exactly this. This is how money came to be, "organically", in the first place. Because of modern fiat currency people tend to think that money is some sort of invention, but it doesn't take much to realize that if you're a dairy farmer then barter is completely untenable. How do you save and store enough milk to buy a car, and who has a car for sale and wants to trade it for a ton of milk anyway? Throughout history everything from salt to spices to metals has been used as currency. There are 5 properties that make for a good currency: - Easily divisible - Relatively light weight / easy to store - Difficult to counterfeit / fake - Other people are highly willing to trade for it (high market value) - Durable / non-perishable You need all of the above, which is why precious metals became so common. If fiat currency "expired" then people would just replace it with something that satisfies durable / non-perishable.
LouisSayers 3y ago
> People will get rid of their perishable money and buy property Which has rates to pay - assuming the market stands still that property is actually a liability. Storing money in gold is probably a better example, until we find a way to cheaply create it...
janalsncm 3y ago
I feel like homes should not be taxed, or at least the first $X dollars of your first home should not be.
- verall 3y ago
  This is the case in most places I know of, it's called a homestead exemption.

by Geee 3y ago

gspencley 3y ago

> People will always try to store their wealth in inperishable goods. Exactly this. This is how money came to be, "organically", in the first place. Because of modern fiat currency people tend to think that money is some sort of invention, but it doesn't take much to realize that if you're a dairy farmer then barter is completely untenable. How do you save and store enough milk to buy a car, and who has a car for sale and wants to trade it for a ton of milk anyway? Throughout history everything from salt to spices to metals has been used as currency. There are 5 properties that make for a good currency: - Easily divisible - Relatively light weight / easy to store - Difficult to counterfeit / fake - Other people are highly willing to trade for it (high market value) - Durable / non-perishable You need all of the above, which is why precious metals became so common. If fiat currency "expired" then people would just replace it with something that satisfies durable / non-perishable.

LouisSayers 3y ago

> People will get rid of their perishable money and buy property Which has rates to pay - assuming the market stands still that property is actually a liability. Storing money in gold is probably a better example, until we find a way to cheaply create it...

janalsncm 3y ago

I feel like homes should not be taxed, or at least the first $X dollars of your first home should not be.

verall 3y ago
This is the case in most places I know of, it's called a homestead exemption.