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Where's the Money come from? (General)

by dan @, Friday, May 01, 2020, 16:04 (34 days ago) @ dulan drift

This was my first thought when Trump announced the initial 2 TRILLION dollar infusion of cash -- where does it come from and why couldn't they do that to solve the decades old health care crisis in the US?

Clearly they could do that for any reason they want, but they choose not to. This money is going to keep their rich friends afloat, not poor Joe and Joanne who are going to lose their business and end up on the street.

My world view is this -- these governments are just legalized gangs. They're the scum that have tricked, swindled, cheated, and if that doesn't work, killed all the competition. The US govt. is simply the most powerful gang. Sure, we vote, to elect a temporary gang leader.

So they can create as much money as they want. Yes, they just print it. They just create it out of thin air, and it will result in inflation. My parents bought the house I grew up in for 30K, and that was a shitload of money then. It's now worth nearly 500K. That's inflation and it's a stupid amount of money for a very normal house in a normal neighborhood.

Just a few decades ago, 100K would have been more than enough for a couple to retire on, now they need 1 million, minimum.

And how about the newest fad, negative interest rates. Banks lend money out, and accept less in return because at the rate that the value of the currency is going down, the bank does better to get that percentage back. So, for example, they lend out $10, and will accept as payment $9 in a certain period, because if they don't do that, that $10 will only be worth $8 by that date.

I think what we're going to see at some point is the end of cash, and covid is moving that forward: https://www.bbc.com/news/business-52455706 . I've been studying money for a while now, and digital currencies, and cryptocurrencies, and there's a lot happening. I think in the not to distant future, governments will be rolling out their own digital currencies, and among other things, this will increase their surveillance capabilities by degrees I don't want to imagine.

In the meantime, whatever money we have is worth less and less and less.


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