Shouldn’t the taxpayer not also benefit from the great game of musical chairs ?
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The final phase is when they cause hyper-inflation and then issue a new currency. Of course, after having traded this worthless paper for all the real, tangible things they can. That will finally return America to its founding roots – land owning gentry and rabble.
I hate to think that could happen….but that’s why it is good to have a variety of valuables that will easily be converted into a new currency…if it happens.
TJWP- I agree. The unknown is how long before this happens. If I were a young person, being prepared for this possible outcome would be top of mind.
I recommend the following website if you’re interested in understanding how the modern monetary system works and what hyperinflation is.
pragcap.com (Pragmatic Capitalism). I think it’s still on the Fly’s blogroll.
When LeDuc continually schools PragCap on Duc’s blog, you’ve got to wonder about MMT. Duc has been killing them, constantly, month after month.
Do you have an address for the blog?
LeDuc must not be mentioned in the hallowed halls of iBC. In fact, I have already perpetrated a severe breach of iBC etiquette, simply by mentioning his name. I’m afraid I cannot provide a link. If you are enterprising, you can probably find his blog by simply doing some sort of search for MMT and LeDuc or Duc and Cullen Roche.
Ha, ok.
There is a reason you cannot legally barter goods, or alternative currencies, like gold and silver for goods in the United States. Its all about control over the plebs.
Yep.
Yeah cause it has nothing to do with liquidity…