Your very first post in this thread was "Said the person who has no concept of how they work."
If you have a point at all, you've never stated it.
Exactly. As I said before it sounded like a defender of MLMs one on wikipedia. This is akin to why Turkey is in such bad shape - failure to understand basic fundamentals. One of those fundamentals is a currency based on a limited resource favors
the rich because it promotes deflation as demonstrated by the original Great Depression of 1873 to 1896 (renamed Long Depression when the 1929 on hit); prices of goods fell but things like mortgages and loans went up.
Why conservatives spin fairytales about the gold standard shows what limited currencies really do. The hyperinflation specter everybody talks about has never happened to the
Constitutional United States (the Articles of Confederation United States by contrast had hyperinflation out the wazoo; and CSA money had much the same problem). Yes, the US has had boughts of high inflation but not hyperinflation and certainly not for the
half century Turkey has had its problems.
As I have pointed out before
the money the Fed printed was to cover already existing money in savings accounts so people could easily tap it and due to the accounting change that happened what had not been part of M1 suddenly was counted.
So a person with $500 checking and $10,000 savings suddenly got counted as $15,000 ie not the printing of "new" money but printing of currency that already existed.
bernardmarr.com
