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It's an interesting idea, I would agree that that's money in its ideal form. There's a push and pull to it though too, because when you accumulate money, it's

It's an interesting idea, I would agree that that's money in its ideal form. There's a push and pull to it though too, because when you accumulate money, it's not just that you may have pleased someone, but that you have placed your trust into that money, that it will be worth something tomorrow, and thereby you have placed your trust into society at large. So money is not just tracking how much value you have added, but also how much trust you have put in.

card_zero 2y ago
Yeah, and the part about "we can just print dollars" comes down to lending and investment, I guess, and so it's more like "we believe in you" than "you have pleased us".
- cynicalpeace 2y ago
  The "we can just print dollars" part is wild. Especially since the world really wants these dollars. Any other country would see rampant inflation immediately. Instead, we've exported these dollars worldwide, enriched the money printers and destroyed our middle class. Understanding how this works made me think that reforming international trade is the way to ameliorate wealth inequality in the USA, rather than progressive taxation. This is basically JD Vance's stance.
  - card_zero 2y ago
    Interesting, how's that? I don't really know much about what Vance thinks. Protectionism?
    - cynicalpeace 2y ago
      See this video where he questions the Fed Chair about the dollar's role as the world's reserve currency [1] He notes that the dollar's status is a tax on producing and a subsidy on consuming. He also notes it's a national security risk if we need to buy bullets from our adversaries. This is basically the position the current administration is taking. Weaken the dollar and encourage onshoring manufacturing by imposing tariffs, or even just the threat of tariffs. You strengthen the middle class and our military position at the same time. [1] https://www.youtube.com/watch?v=e1VzOUd5IYc https://www.youtube.com/watch?v=e1VzOUd5IYc

card_zero 2y ago

Yeah, and the part about "we can just print dollars" comes down to lending and investment, I guess, and so it's more like "we believe in you" than "you have pleased us".

cynicalpeace 2y ago
The "we can just print dollars" part is wild. Especially since the world really wants these dollars. Any other country would see rampant inflation immediately. Instead, we've exported these dollars worldwide, enriched the money printers and destroyed our middle class. Understanding how this works made me think that reforming international trade is the way to ameliorate wealth inequality in the USA, rather than progressive taxation. This is basically JD Vance's stance.
- card_zero 2y ago
  Interesting, how's that? I don't really know much about what Vance thinks. Protectionism?
  - cynicalpeace 2y ago
    See this video where he questions the Fed Chair about the dollar's role as the world's reserve currency [1] He notes that the dollar's status is a tax on producing and a subsidy on consuming. He also notes it's a national security risk if we need to buy bullets from our adversaries. This is basically the position the current administration is taking. Weaken the dollar and encourage onshoring manufacturing by imposing tariffs, or even just the threat of tariffs. You strengthen the middle class and our military position at the same time. [1] https://www.youtube.com/watch?v=e1VzOUd5IYc https://www.youtube.com/watch?v=e1VzOUd5IYc