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In reply to the discussion: If You Have The Ability to Create Your Own Currency, How Can You Ever Be Broke? [View all]Yavin4
(35,438 posts)66. The U,S, Is Not "Broke"
It's not insolvent primarily because it can print money to pay its bills, and does so with regularity.
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If You Have The Ability to Create Your Own Currency, How Can You Ever Be Broke? [View all]
Yavin4
Oct 2012
OP
Not print enough, not put enough in circulation, not pay working people enough,
bemildred
Oct 2012
#100
First off, it has no intrinsic value, it's paper. Nowadays it's not even that.
bemildred
Oct 2012
#103
bemildred...American workers have a decreasing share of the national wealth. This "no consequence"
Romulox
Oct 2012
#106
Rampant inflation (e.g. of housing prices) does not and has not helped common people. nt
Romulox
Oct 2012
#109
No. Why do you advocate redistribution and taxation if you don't wish harm on others?
Boetie
Oct 2012
#136
Who are you backing for President? Thanks for answering my simple question.
uppityperson
Oct 2012
#149
Is this not a voluntary act, you giving a business money in exchange for a good?
Boetie
Oct 2012
#131
Businesses are perfectly capable of coercion, as everybody knows by experience.
bemildred
Oct 2012
#141
When you exchange money for a product, are you not voting for that product (in an economic sense)?
Boetie
Oct 2012
#143
No. I'm buying something I presumably need or want. I may or may not have choices.
bemildred
Oct 2012
#145
Yes, because you can go without, or you can buy it. No one is putting a gun to your head.
Boetie
Oct 2012
#146
PS: I'm not saying there are no consequences to inflation. I lived through the 70s and 80s.
bemildred
Oct 2012
#110
Are my productive efforts (mowing a lawn, designing a building) an abstraction or are they real?
Boetie
Oct 2012
#129
If money represents productive real effort, than why do you advocate its arbitrary creation?
Boetie
Oct 2012
#135
Money represents whatever the hell you want, including that. It's ARBITRARY.
bemildred
Oct 2012
#138
Because the more money you print the less it is worth, in relative terms.
Agnosticsherbet
Oct 2012
#5
The Worth of Anything (including money) Is What Others Are Willing to Pay for It
Yavin4
Oct 2012
#14
The world is already trying to move in many places to start displacing the dollar form oil...
Agnosticsherbet
Oct 2012
#29
Where is there a country that bases their currency on the value of labor?
Agnosticsherbet
Oct 2012
#38
"our currency is based on our willingness to go to work tomorrow and to pay taxes on our earnings"
Yavin4
Oct 2012
#15
A quadrillion of something with no value cannot pay for even the cheapest things. (nt)
Posteritatis
Oct 2012
#73
Any realistic economic theory would adhere strictly to the Laws of Thermodynamics,
ronnie624
Oct 2012
#13
The rich have $50 trillion in wealth. The US just needs $1 trillion of that to balance the budget.
reformist2
Oct 2012
#18
Perhaps you can tell me what other nations were completely dependant on the German market
Egalitarian Thug
Oct 2012
#94
You are correct. People are just hyperizing about doing this long term, which is in fact bad.
reformist2
Oct 2012
#28
"i'm not an economics expert". That much is certain, and is the first thing you should consider when
Egalitarian Thug
Oct 2012
#95
Technically, the Weimar Republic didn't go broke, but the people suffered greatly.
badtoworse
Oct 2012
#41
You used the phrase "The upsides to hyperinflation are". That's all I really need to say. (nt)
Nye Bevan
Oct 2012
#49
"you need to bone up on some basic economics". i think you might want to read some basic econ....
dionysus
Oct 2012
#87
If our gobstoppingly high trade deficits don't abate, it is not stupid, but rather, INEVITABLE.
Zalatix
Oct 2012
#90
The Greeks should renounce the Euro and give every citizen a billion Drachmas. Problem solved!
Throd
Oct 2012
#44
Yet at this time nobody has money to buy anything. And they're working their asses off.
Zalatix
Oct 2012
#57
Only by creating so much that others lose faith in your ability to generate sufficient
Egalitarian Thug
Oct 2012
#63
The "Parable of the Broken Window" doesn't work when the rich are hoarding so much, though...
Romulox
Oct 2012
#104
The "Given this.." in my statement refers to the fact that people accept your currency.
Yavin4
Oct 2012
#148