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5 sats \ 3 replies \ @Bell_curve 14 Jan \ on: The Delusion Surrounding Central Banking (TBL, Nik Bhatia) econ

There is no such thing as an unbalanced budget, every budget is balanced via taxation and implicity via borrowing and inflation

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15 sats \ 1 reply \ @denlillaapan OP 14 Jan

semantics

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5 sats \ 0 replies \ @Bell_curve 14 Jan
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5 sats \ 0 replies \ @Solomonsatoshi 14 Jan

Fiat money enables a government and the private bankers empowered by the central bank to create new money via debt considerable in fact unlimited ability to debase the savings of all citizens.
Its a budgetary trick only the bankers and governments enjoy under fiat.

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