pull down to refresh
So everyones money is debased to fund something.
It's not everyone. It's only people who were productive enough to obtain money, and among those, only the people gullible enough to hold cash and treasury bonds.
Michael Saylor isn't paying for it because debasing the currency is driving up his net worth. I'm not paying for it because I'm not holding any of the currency that is getting debased. So now they have to skim from all of the nocoiners at an even higher rate to make up the difference.
Bitcoin breaks the whole scam by rendering it optional, unless the government is tyrannical enough to ban or prohibitively tax civilian use, as the PRC, Iran, and blue states would.
If the fiat issuance is directed toward purposes which are likely to increase the productivity of the entire economy then it can be argued it is an equitable use of fiat monetary issuance.
No it can't. By that logic I can steal from whoever I want as long as I have a plan to spend it on the greater good. Why would you assume the communist party or any regime has a better idea on where to spend the money that someone else made? And why would you expect anyone to keep working if you're just going to redistribute whatever they earn? How could they even work at all in that environment? They're constantly having to pay for someone else's project.
If it was for hydro dam or new roading which would be likely to boost the wider productive economy then it was probably justified...because most people would ultimately benefit.
Why are you assuming that the private sector can't or wouldn't build a for-profit dam? It absolutely could, and it would be far superior to any government dam.
In contrast since the neoliberal 'reforms' in the west private bankers (the Zionist fiat debt slavery bankers cartel who own Trump and USA since 1913) have been given near unrestricted ability to issue fiat debt capital toward any purpose- this is an obvious and corrupt misuse of fiat monetary powers.
There are never any limits on how a government can issue fiat debt capital. That's the whole problem with a currency by decree.
As long as you've bought in to the altruist morality (the collective needs your money for the greater good) then I can spend your money however I want, as long as I have more guns than you.
Why shouldn't the US tax New Zealand? If the US needs to leverage New Zealand's wealth to invest in global infrastructure in a way that will benefit humanity as a collective, which includes New Zealand, what's the problem? It's the same principle as skimming from citizens to pay for a dam. You just want to draw a bunch of arbitrarily lines to limit who can be the victims and who can be the perpetrators of this morality so that you come out on the winning side.
Yes this is the basis of fiat money.
So everyones money is debased to fund something.
So, it depends a LOT what that something is.
If the fiat issuance is directed toward purposes which are likely to increase the productivity of the entire economy then it can be argued it is an equitable use of fiat monetary issuance.
If instead it is simply pumped into existing assets to inflate their nominal value than its only creating illusory wealth.
The USA and most western economies used to understand this and applied strict limits upon how and where fiat debt capital issuance was allowed.
If it was for hydro dam or new roading which would be likely to boost the wider productive economy then it was probably justified...because most people would ultimately benefit.
This is what China is mostly practicing- the ethical and logical application of fiat debt issuance- leveraging everyones collective wealth to grow the collective wealth by investing in productive infrastructure and assets..
In contrast since the neoliberal 'reforms' in the west private bankers (the Zionist fiat debt slavery bankers cartel who own Trump and USA since 1913) have been given near unrestricted ability to issue fiat debt capital toward any purpose- this is an obvious and corrupt misuse of fiat monetary powers.