The illusion of scarcity needs to be maintained. Dollars are only worth something because the entire world believes they’re worth trading for good and services. The only reason the U.S. government collects taxes and “borrows” money is to maintain the illusion.
If the US Government just conjured up trillions of dollars to pay it’s debts, the world economy would collapse. So the Federal Reserve has to do it slowly via Quantitative Easing.
The status quo only serves to entrench the current power structures. Economics is just as imaginary as any other organised religion, and as an antitheist I’d prefer to live within a system which can legitimately be mapped to reality.
The US congress already conjures every dollar out of thin air, it’s ‘debt’ is merely a poorly labelled finance construct, and the ‘deficit’ is merely the sum total of private sector account balances.
Religion is the opiate of the people, economics is their fentanyl.
The illusion of scarcity needs to be maintained. Dollars are only worth something because the entire world believes they’re worth trading for good and services. The only reason the U.S. government collects taxes and “borrows” money is to maintain the illusion.
If the US Government just conjured up trillions of dollars to pay it’s debts, the world economy would collapse. So the Federal Reserve has to do it slowly via Quantitative Easing.
The status quo only serves to entrench the current power structures. Economics is just as imaginary as any other organised religion, and as an antitheist I’d prefer to live within a system which can legitimately be mapped to reality.
The US congress already conjures every dollar out of thin air, it’s ‘debt’ is merely a poorly labelled finance construct, and the ‘deficit’ is merely the sum total of private sector account balances.
Religion is the opiate of the people, economics is their fentanyl.