“It is well enough that people of the nation do not understand our banking and monetary system, for if they did, I believe there would be a revolution before tomorrow morning.” - Henry Ford
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But we NEED inflation, Stefan. Without it our footballs and balloons would go flat!
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So is waged labor
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Would you prefer free labor? We have another word for that...
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If the same $1 was still backed with gold it would be worth $63.55 of today's dollars.
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What makes you say this? If this was true, it would mean that deflation enriches the poor. Would you say that too?
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It would, because the purchasing power of your money increases over time. So a poor person who can only save very little might retire years later and find out what they saved actually buys more than what it would have back when they earned it
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1/2 Deflation means that the costs of goods and services that your company sells are being cut. Companies cut costs mainly in one way: by cutting salaries of the working people, i.e. the poors.
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2/2 Moreover deflation increases the value of loans, because of what you said. On the other hand inflation is rentiers' enemy. Who borrows more money, the rich or the poor?
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Arguably, status quo is lesser of 2 evils. Placing power of money creation entirely into hands of government alone requires: 1.) sophisticated knowledge of economics by all stakeholders 2.) a populace who does not cry "give me more" 3.) politicians who are not spendthrifts.
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Not enough by half. Audit, Indict, Dissolve.
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Absolutely. Not a bug but a feature.
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Taxation is theft. Inflation is a byproduct of the creation of debt based currency which subsequently is the reason for taxation! And around and around we go!
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And fills the pockets of the rich
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Stephan, I loath government and the current divide and rule agenda by the corporate elite, so why is it that I disagree with you so often. If you have nothing, how can inflation impoverish you? And if you owe money, the debt decreases in real terms.
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