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> Now you might ask why the Fed targets 2% Because this is the amount that that the population will tolerate without revolting (see how we’re reacting to highe
by sjdbdjskbzba 1y ago
> Now you might ask why the Fed targets 2%
Because this is the amount that that the population will tolerate without revolting (see how we’re reacting to higher currently). Permanent inflation is permanent devaluation of labor, and permanent growth for capital holders. Coins have ridges on them for a reason.
The root problem is a debt based economy. It is not needed, and serves only to increase the wealth gap and shrink the middle class. The capital class has put much money towards financing “experts” who say inflation is needed. Other systems exist - monetary policy should serve the people, not enslave them [1].
Take homes for example - if we simply worked towards making homes cheaper, nobody would need mortgages. People owned homes before the 30 year fixed existed. The problem is if we make homes cheaper there’s less left for the capital class to own.
[1] https://en.m.wikipedia.org/wiki/Social_credit https://en.m.wikipedia.org/wiki/Social_credit
- zahlman 1y ago> Coins have ridges on them for a reason. The historical reasons aren't relevant. Coins are made of low-value metals nowadays and even if you could collect a large amount of coin shavings, exchanging them for their intrinsic value is not feasible without smelting, which is costly and impractical for almost everyone.
- sjdbdjskbzba 1y agoFractional reserve banking is coin clipping rebranded. Capital holders generate more capital out of nothing.