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State profligacy in the era of Central banking is an anti Democratic strategy to boost capital too. You borrow money, which increases the money supply, stealing
by throwawaymaths 3y ago
State profligacy in the era of Central banking is an anti Democratic strategy to boost capital too. You borrow money, which increases the money supply, stealing value from everyone through inflation. This hurts the poor the worst, and benefits the rich, who rely on debt for capital instruments (the value of the debt, which is nominal, is reduced over inflation). Then you spend that money on contractors (even when it's used for social services).