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RE: Andrew Yang's Siren Song of Free Money Will Cost You Dearly
Colonial Scrip, not continental, which came after, and which had nothing to do with the former.
Colonial Scrip, not continental, which came after, and which had nothing to do with the former.
I'll have to look into that one. The "depreciation (of the Continental) was caused by the government printing large amounts of currency in order to meet the demands of war." When the currency is depreciated because of over printing the prices rise. That's inflation, first the money supply is inflated with printing too many notes, then the prices rise to compensate. If your money is collecting dust in a bank for too long, you're screwed.
Inflation is inherent because of market forces themselves. The more wealth is abundant the more people are willing to pay. You think it's a matter of more money but there are other important factors that come into play, which in the first article are referenced, and also in the white paper, and by the investopedia article, and like it says in that article, no emperical evidence. Inflation isn't that simple as "more money devalues money". You don't have any idea how much money it would cost to fund an ubi or how many times this has been tried in all kinds of shapes and sizes and the almost immediate positive effects on both the economy and society that had been discovered again and again. This is probably the sanest way to give capitalism a chance: let the poor man play the game. You think it's going to fail. Great, but you have about as much clue on either why it could fail or it's viability as you do on how inflation is caused or money creation works or intrinsic Vs historic.
Over-printed, in relation to being printed just enough. You know what's funny, how you think it's so simple to repeat the ignorance of whoever wrote that nonsense. You don't have to explain to me how inflation works, and you can argue that inflation will be caused by more money forever, I'll just point out that fake money got nations out of inflation, remark about the outcome of numerous ubi programs, and point out the absurdity of valuating the world wealth in gold and how we will pay for cars in micrograms, and then point out that even if the fed wanted to pay themselves whatever comes after trillions, they couldn't spend it all, the fed is in the business of maintaining it's power and anything that erodes the people's trust in them cripples the value of dollars, gold on the other hand, you can fake about a dozen ways from Sunday and no one would feel safe carrying around the old bag of "here's literally everything I have, just spare me my life".
If "free money" is the magical solution to the world's problems lets test it out in Zimbabwe first, yes?
It doesn't matter where, this has been tested for decades numerous times. It's not magic to think that distributing wealth to the poor addressees numerous problems. This is what you seem completely oblivious to among other things, you literally knocked ubi down because of your notions of how it's funding would work, but you don't seem to understand neither how little it would cost to implement it or how effective it actually is, you literally used the exact same words to say that it wouldn't work that the ones you think of as thieves used to abruptly stop the experiment without releasing any relevant data or anything other than "it's not sustainable".
Perfect Zimbabwe it is, they have nothing to lose so if it doesn't work it's business as usual.
And what follows are the various critiques that are raised ad nauseum by people much like yourself who have no idea what they're talking about. You literally are mocking something that you don't understand. You're reduced to mockery, why should I bother with someone who literally is talking shit about things that they have either rudimentary understanding or knowledge of, such as inflation, and otherwise has zero clue about ubi. You don't know shit, and by now, you should know that you don't know shit, unlike before when you thought you knew something but all it was is you not knowing that you didn't know.
https://blogs.unicef.org/evidence-for-action/evidence-over-ideology-giving-unconditional-cash-in-africa/
You seem to have a disconnect in understanding the consequences of overprinting a currency. I don't know how to get you there. The collapse is coming, and the program you want to see will get us there faster. Not only will it get us there faster, but it will also create a whole class of individuals who will feel extra entitled by the time the collapse hits. They'll feel extra entitled because of the "free money" that worked for a very short period of time before ultimately triggering the end of the dollar as we know it. You seem confident in your misunderstandings and that's fine, we can certainly agree to disagree.
You seem to not understand that overprinting is a relative term, and you seem to think that the empirical evidence that there is for inflation in relation to money in circulation/on account which hardly correlates isn't indicative of the nature of inflation (which is not overprinting, how did Brazil reverse inflation again?). Go inform yourself, your fake platitudes and concern is obvious, if you really cared you would begin at home, examining your "understanding" and knowledge of inflation, of the numerous ubi experiments. All you're doing is spreading FUD. You don't have any idea about ubi, and a very telling low brow opinion of your fellow man, of an entire generation, a "whole class".
The collapse is still coming, this has been the same line that has been repeated by people for 80 years. In fact, giving money creation to the fed, (money creation which is initiated by the public, on behalf of the public, for the public) and moving off a commodity backed standard was the sanest thing to do. Not only did it add to the stability of money because there was no commodity to hoard and manipulate the market with to hedge bets against the currency, neither oil or silver/gold, but it allowed for wealth to be created freely, without putting pressure on the scarce money, that with each consequent economic boom, it would devalue goods and services through monetary scarcity, and nothing else, something that is the opposite of overprinting, something that is relative, just imagine what a failure it would have been to pay in gold backed dollars, I don't think you know or understand the perils of commodity money, as much as you are under the assumption that they are the only sound money.
That was among the most common critiques. I doubt you bothered to read it, or bothered to entertain it, or explore it, investigate it, but you sure did spend a good minute writing about something you have no fucking clue about. Ergo you are reduced to
"la la la I am right you are wrong I don't care what you say la la la la la" walks away with ears plugged yelling "la la la"
Mockery didn't return the intended result?