[ExI] John's idea

[spike]

From: extropy-chat [mailto:extropy-chat-bounces at lists.extropy.org] On Behalf Of John Clark
Subject: Re: [ExI] John's idea

 

On Wed, Feb 1, 2017 at 12:42 AM, spike <spike66 at att.net <mailto:spike66 at att.net> > wrote:

 

 

>… The USA did "debase" the currency somewhat in 2008, they should have debased it more, if they had the recovery from the Great Recession would have been faster…John K Clark

 

 

Ja, it is a way of robbing from everyone to pay for our government spending more than it takes in.

 

Since the US government does not does control the interest rate (the Federal Reserve does that) then the Federal Reserve protects the currency it issues.  This makes the dollar an attractive trading medium all over the world, particularly in brutally poor countries (the ones with most of that 3.5 billion people who own less than 8 people) where one could argue the only real wealth present is the American currency used in transactions there.

 

If the Federal Reserve debased American currency (to our benefit) then the value of the primary currency traded and owned by those 3.5 billion people in brutally poor countries is diminished.  

 

We could think of this is reverse Robin Hood effect: we would be robbing the poor to give to the rich.

 

I object.

 

Alternative: allow the government to spend only what it takes in.

 

spike

 

 

 

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