who gives money its value now?
Its not backed by anything, as you know. So who decides how much our money is worth, and why don’t they make it worth more instead of letting us eat >30% inflation over the last few years?
Yes our money is fiat currency. It has no intrinsic value.
Taxation gives it value. Try not paying your taxes and they could throw you in jail, confiscate some prized possessions, garnish your wages or bank accounts. And what is the only thing accepted for a tax liability? The U.S. dollar. Not gold, not Bitcoin. Only the U.S. dollar and the federal government is the only one who can issue it.
4car
The part that says “so they can determine HOW MUCH to give back to you” is incorrect.
The taxes you pay does not determine how much the federal government spends into the economy or when it does.
The vast majority of people get the sequence wrong. They think it’s taxing and borrowing first then spending but that is the exact opposite of what really happens. The spending comes first, then taxing and borrowing.
Congress has the power of the purse. If Congress agrees on spending money on something then the money just shows up. That is how it works. Typically people won’t believe you because they relate federal spending to their personal finances. But they are not alike and to think so is to confuse oneself. Ask yourself how was the hundreds of billions of dollars sent to Ukraine? Were taxes raised? Nope. Were bonds sold? Nope. If you think, so upload the Treasury statement. Neither happened. Congress voted yes, then wallah the money appeared. There was no debate on “how ya gonna pay for it?” That is only reserved for social programs. Not for war. So when someone tries to push the narrative of we don’t have the money, you will know they are full of shit.
The problem across your money printing posts is that you confuse intrinsic value with scarcity.
Which is interesting because you directly discuss managed scarcity here:
What makes limited resource or access backed currency valuable is the limit of availability. There is only so much available, and to have a chunk means you found a valuable thing people are willing to give theirs up for as a very basic description.
You can’t print unlimited money even in a fiat system, because without taxation managing scarcity it will lose its value. This is cut and dry inflation, and is the real root of the problems you discuss and inappropriately accuse a lack of money printing for causing. The closed system is the scarcity maintaining value.
Since adopting a fiat system, our inflation has been off the rails. Queue all the “boomer” talk about buying houses for $90k and selling for $1m, or the price of gas now vs 1998, or keep going back further for real shocking price differences.
Pumping more money in to a system does not make it more affordable, not long term. As inflation catches up, eggs will just cost $25 per dozen instead of $12. And surgeries will cost $1 bajillion.
A fiat system exists to balance a population that outgrew its gold reserves, or other assets, in most cases. You scream about capitalism but are actually living in a system that does provide more money to go around than physically exists, in a balanced way to control rampant inflation, and still can’t make it work. How does adding more inflation help you? And you realize if you struggle now, you would be even worse in a system that forces true value realization for every single penny, right?
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True of limited resources untrue of our currency.
Yes you can’t print unlimited amount of money but managing scarcity has no bearing on it
Another falsehood. So I see you know even less about economics than you do about business in general, more specifically the health industry.
And what would happen if productivity kept pace?
Are you speaking of me or the population as a whole? So when most people are living paycheck to paycheck. What does that tell you about our system?
And if people were making more money, instead of, the profits mostly going to the top where the propensity of spending is less, then we’d have a stronger economy.
[quote=“Njord, post:205, topic:290429”] true value realization for every single penny, right?
[/quote]
Kinda like the Ukraine war.
It’s controlled scarcity. As you explained yourself. It’s your point, I’m just highlighting it. You’re literally arguing with yourself and tbh this is another clue that you have no idea what you’re talking about and just regurgitate fringe bullshit you hear on weird podcasts.
No bearing on what? The printing of or the overarching point of valuation?
Yet, again, you made the statement…. (And were accidentally correct…)
So, again, managed scarcity? How many times can you make and argue the same point in the same sentence?
That it’s allowing people to live. Now imagine genuine scarcity.
Distribution is another topic and an interesting one, but still pivots on scarcity…
Printing money CAN be detrimental if production is lacking OR resources are constrained.
If there were no such thing as compulsory tax then money wouldn’t have the value it does today. The fact that you need it to pay your taxes or fall into trouble with the Feds. Everyone needs it.
[quote=“Njord, post:207, topic:290429”]
So, again, managed scarcity
[/quote/]
Managing resources, not capital.
How many times can you not understand a point?
That’s allowing people to survive. Wow! While productivity has increased immensely. Wages haven’t moved even close to the amount of the productivity increases. Where did all that increase in productivity go? The pockets of the owners, upper-level management and stockholders. Not the workers..
It pivots on theivery…
As many times as it’s nonsensical, on repeat. And I think we’re done here, again.
*thievery
Do americans mostly agree with what he did? Or do most of you think his action was something bad?
We think you’re a troll.