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Printing money to pay debts is inflationary. Every dollar printed is a dollar stolen from the collective citizenry of the USA. Of course it makes sense to add
by Panzer04 1y ago
Printing money to pay debts is inflationary.
Every dollar printed is a dollar stolen from the collective citizenry of the USA. Of course it makes sense to add money supply commensurate with increased productivity, so that money doesn't deflate, but go beyond that and that is what your are doing.
Either way, someone has to pay the debt, even if you repudiate it.
- amrocha 1y agoYou’re wrong, empirical evidence shows that you’re wrong, but you don’t seem like you’re engaging in good faith so I’m not going to do your homework for you either.
- itake 1y agoPot calling the kettle black. You're saying the commenter is wrong, without presenting any substantive arguments or "empirical evidence" otherwise. "Do your homework" is not a useful comment, b/c you can easily find eco-chambers re-enforce any point you want on the internet. Instead of trying to engage in conversation, you're just pushing them further into their own ecochamber.
- amrocha 1y agoYou can’t reason someone out of a viewpoint they didn’t reason themselves into. There’s no economic argument to be had with someone that says monetary policy is theft.
- Panzer04 1y agoIf the government prints itself double the money supply, it has effectively made every dollar held by everyone else half as valuable. I'm not making a value statement as to whether this is good or bad, particularly at low levels, but the fact of the matter is that if you pay for debt with money printing your are in practice taking that value from people who hold cash-denominated (ie. cash, debt etc) non-inflation-protected assets.