The current US financial system, with the instant creation of new dollars (in the form of debt) at its root, is inherently corrupting--and over many years has been slowly, and now relatively more quickly, strangling (and/or exporting) the real economy of goods and services.
Money, new and old (or more precisely, the holders and managers t…
The current US financial system, with the instant creation of new dollars (in the form of debt) at its root, is inherently corrupting--and over many years has been slowly, and now relatively more quickly, strangling (and/or exporting) the real economy of goods and services.
Money, new and old (or more precisely, the holders and managers thereof) is continually chasing "investment opportunities"--income streams--that can be extracted from the goods-and-services economy (or from individuals more directly, such as in taxes spent for the benefit of the financiers). That's part of how we get outrageous defense system pricing, outrageous public health costs, and other outrageous government spending. (Example: ~$1,800,000 is spent per estimated covid hospitalization prevented and ~$50,000,000 is spent per estimated covid death prevented in the 6 mos. through 4-years cohort for the CDC-recommended childhood Pfizer covid vaccine--yet the recommendation stands--and appears on every child's "vaccination schedule.")
Monopolized currency creation corrupts not just the financial system and its incentives, but society at large, including politics. (Though politics would likely be corrupt even without financial corruption, I admit.)
Fundamentally, the power of issuing new *unsupported* currency should not exist--or it should be available to all--because wherever it does exist and is monopolized, corruption and oppression follow.
The current US financial system, with the instant creation of new dollars (in the form of debt) at its root, is inherently corrupting--and over many years has been slowly, and now relatively more quickly, strangling (and/or exporting) the real economy of goods and services.
Money, new and old (or more precisely, the holders and managers thereof) is continually chasing "investment opportunities"--income streams--that can be extracted from the goods-and-services economy (or from individuals more directly, such as in taxes spent for the benefit of the financiers). That's part of how we get outrageous defense system pricing, outrageous public health costs, and other outrageous government spending. (Example: ~$1,800,000 is spent per estimated covid hospitalization prevented and ~$50,000,000 is spent per estimated covid death prevented in the 6 mos. through 4-years cohort for the CDC-recommended childhood Pfizer covid vaccine--yet the recommendation stands--and appears on every child's "vaccination schedule.")
Monopolized currency creation corrupts not just the financial system and its incentives, but society at large, including politics. (Though politics would likely be corrupt even without financial corruption, I admit.)
Fundamentally, the power of issuing new *unsupported* currency should not exist--or it should be available to all--because wherever it does exist and is monopolized, corruption and oppression follow.