![Fast and easy way to fix monetary system [768x621 - 29KB]](https://pic8.co/sh/wDbxI9.jpg){kind=link}
I can fix the monetary system by getting rid of the (((Fed))), fiat currency, going back to the gold standard, dual passport holders, Fuck Joe Biden and everyone associated with the WEF.
You can’t fix a toaster
As I often reply: they are designed to be unfixable.
Non fiat currencies do not work in economies of large scale. There is no denying that printing money that you don't currently have is a huge help to any nation. Even if you could design the economy to work solely with a commodity back currency (which you can't), you would still have to compete around the world with the scientific labs that can literally produce gold in a petri dish.
Non fiat currencies do not work in economies of large scale.
I respectfully disagree. They certainly restrain rulers from stealing citizen's tax dollars. Keynesian economics cannot be implemented very well using asset backed currency. However, I believe that's a good thing. The kleptocracy has a plan in mind for economics, it just isn't in line with citizen's welfare.
Can gold be created? Sure, but at high cost. Gold can still be mined. Fiat costs nearly zero to create, therefore lots of it is created. You can read where I explain in detail my position on this.
Essentially, I argue for asset based currency and explain why.
I agree, fiat currencies are a huge "help" to despot rulers. But that also impoverishes the very people the despots claim to help. I'm very cynical of government being a positive force to society. Just because we're all used to big government, doesn't make it good. More like Stockholm syndrome.
I disagree and I stand with the super majority of economists who speak on this topic. You assume in your deduction that printing money necessarily deflates its value when it also encourages investment and the production of goods and services that the market may not be quick to respond to, but that may also be vital. The question isn't about printing money one doesn't have, but rather being able to pay the piper once the check clears and so as long as there's not a run on the bank, this is not a problem. It's also about keeping the supply of money just right to prevent too much inflation.
Also, the problem, once again, isn't so much the printing of money, rather it's what is done with that money once it's printed. The fact that people such as yourself refuse to acknowledge is simple: printing money can be a good thing because it increases the money supply, lowers interest rates, and stimulates borrowing, thus improving the economy. These are undeniable facts. But again, it's about what that money is used for, not whether or not there is some abstract commodity tied to it.
Like I said in my original post, if gold was tied to the US dollar, making gold in a lab would, over time, become more competitive with mining for gold.
There are, however, a minority of radical libertarian-minded conspiracy theorists out there who believe what you believe but they refuse to address nuance. Best of luck to you.
As long as the money is fungible, then what ends up happening is deflation, a specific quantity of money will be worth more over time, as the amount of "stuff" available expands faster than the money supply. Common things will get cheaper as improvements in productivity reduce the real cost of their production, rather than prices going up as is the case with fiat currencies that are recklessly printed by bankers, stealing the value of people's savings. This would encourage people to save, and also to limit consumption to that which each individual finds desirable. Whereas, a fiat currency encourages consumption as the money will be worth less tomorrow, so you're better off spending it now. People will buy the things that are necessary for them and are worth more to them than their sound money. It will also encourage the purchase of more durable goods, goods that will hold their value (in terms of usefulness).
As far as gold goes, there is plenty of it in the ground and in the ocean, but producing it in any quantity requires a lot of effort and expenditure of energy. If some technology were to be developed that made gold cheap and abundant, it would be displaced as a currency to something else. The ability to make abundant quantities of gold would only be beneficial if you were the only one able to do it... a bit like the central banks and commercial banks and their money printing.
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