Hmmm…Is it fraudulent, though?

By the standards that individuals live by, yes.

In the “old days” Governments ALL printed their own money supply — the caveat is that that supply had to be carefully balanced by its productive capacity (or by foreign war & plunder!) or runaway inflation will occur

Sorta kinda. It was usually backed by a precious metal. Circuitously, that’s “productive capacity” — it was the nation’s ability to mine or acquire that metal, which in turn was related to productive capacity.

The bottom line was that in the “old days” a person had the expectation that they could turn in a dollar and get a dollar’s worth of metal back in return. That ended with Bretton Woods.

In its simplest form …. the entire earths assets will eventually end up in the hands of a very few financiers.

Basic Adam Smith, carried to its logical conclusion.

Written by

Data Driven Econophile. Muslim, USA born. Been “woke” 2x: 1st, when I realized the world isn’t fair; 2nd, when I realized the “woke” people are full of shit.

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store